Client and Customer Stories
Impacting Individuals, Institutions, and The Market
With our clients and customers, we’re making financial security possible for all workers. See how we’re coaching individuals, strengthening institutions, and surfacing insights that fuel innovation.
Impacting Individuals, Institutions, and The Market
With our clients and customers, we’re making financial security possible for all workers. See how we’re coaching individuals, strengthening institutions, and surfacing insights that fuel innovation.
Client Stories
“My community is my heart, and I am passionate about my work. I am excited to use my skills to make a program for parents of children with learning disabilities, who often lack the vital information needed to support their children.”
Nancy’s financial situation was strained when she battled breast cancer and went through a divorce. When she connected with Ana, her Financial Coach through her credit union, she wanted to build the credit and savings she needed to buy her first house and convert the space into a daycare.
Ana facilitated a supportive, non-judgmental space where Nancy could openly explore her financial details and credit report. This safe environment allowed Nancy to ask detailed questions and gain a clearer understanding of her cash flow. Nancy was also able to clear up some misconceptions about her credit, particularly the idea that carrying a high balance on her credit cards could improve her score. Ana explained that this actually has the opposite effect, and Nancy learned maintaining low utilization or zero balances can boost her score. Ana also highlighted how high utilization of credit cards can drain cash flow due to high interest rate charges.
Ana uncovered hidden annual fees and automatic monthly deductions on Nancy’s credit cards, of which Nancy had been unaware. Ana also identified a $2,800 charge-off account that Nancy hadn’t known about because letters were sent to the wrong address. With Ana’s guidance, Nancy reached out directly to the lender and paid off the account in full.
“Seeing my progress so quickly has been incredibly satisfying. Understanding the ins and outs of credit has been a game-changer for me. I’ve been navigating my finances blindly until now.”
Nancy had difficulty accurately tracking her income due to using multiple bank accounts and unaccounted cash payments. On Ana’s recommendation, she consolidated her bank accounts into one, and began regularly depositing cash payments she received. This streamlined approach allowed Nancy to track her income more precisely, make informed financial decisions, and develop a clearer savings strategy.
“I had never visualized my expenses before, and the information was shocking. Ana helped me prioritize; I used to try to cover too many things at once. Now, our conversation is guiding me to prioritize expenses and make tangible progress.”
With a better understanding of the credit system, Nancy realized that carrying a high balance on her credit cards was counterproductive. With Ana’s guidance, she transitioned from paying only the minimum balance to paying off her entire credit card debt, totaling $6,000. This change allowed her to save on high interest charges and redirect cash previously spent on interest towards savings and other goals. Through their work together, Ana and Nancy were able to lower her total debt from $17,000 to $6,000. Nancy also increased her monthly savings contribution to $5,000, a $3,000 increase from her previous savings of $2,000 per month.
“Ana really helped me understand how debt and credit influence my mortgage approval and interest rates. Understanding this has been key to motivating me to improve my credit score.”
Ana and Nancy worked closely through every step of the mortgage application process, ensuring Nancy met all the necessary requirements to secure a mortgage through her credit union. Looking forward, she plans to save for her son’s college education, renovate her new home, and prepare the basement for the daycare.
“I’m so thankful for all of Ana’s help. Without her, I wouldn’t have achieved the same results. The support and guidance I’ve received have made all the difference.”
For years he saved toward his dream of homeownership, but when the basement he was renting began flooding, his dream quickly became a pressing need. Before the flooding, he had applied for a mortgage but was rejected and given minimal explanation. It wasn’t until he met with his Financial Coach, Ana, through his credit union, that he began to unravel the complexities of his financial situation.
Together, Ana and Horacio delved into a detailed breakdown of his finances. This was the first time that Horacio was seeing his credit report and getting an explanation of why he was not eligible for a mortgage.
“The credit system in the US is a mystery, with no one to guide you through the steps. There is no straightforward advice, no hands-on guidance. But with Ana’s help, I gained clarity and confidence to move forward.”
Ana discovered a late mortgage payment on Horacio’s credit report, which surprised him as he had actually made the payment on time. Ana found that the late payment was due to a post office error. She guided Horacio through multiple calls with the credit bureau to remove the late charge from his report. Ana also advised Horacio to reinforce the process by mailing dispute letters. As a result, his score increased from 541 to 682—a 141-point increase after his credit report was updated.
Horacio also had one collection account on his credit report. He paid off the account in full in May 2022, but the collection still remained on his credit report. Before meeting with Ana, Horacio was unaware of the protocol to remove paid-off collection accounts from his report. Ana assisted him in initiating a dispute with the credit bureau which led to the account being updated to “paid” on his report.
After improving his credit, Ana helped Horacio secure a mortgage. He initially applied to a large financial institution for a mortgage, but they were slow and unresponsive regarding his application to buy a condo. Horacio began to feel disappointed by the bank’s lack of responsiveness until Ana suggested that he apply for a mortgage at his local credit union.
“Before financial coaching, I didn’t have hope that I would be able to afford anything on my own, but working with Ana changed my life. I appreciated her patience and the time she took to explain things to me in a way I could understand. She really took the time to help me find a way to reach my goals.”
Ana assisted Horacio with completing the mortgage application forms, leading to him quickly securing a mortgage, an opportunity that might not have been available at a larger bank with stricter criteria. Horacio now pays nearly the same amount, $1,077 for his condo mortgage compared to his previous $1,000 basement rent, but now he’s building equity and enjoying more space.
“Purchasing a new home was an opportunity to finally prioritize myself and enjoy life. Now, I can sleep in peace. I feel like a new person.”
Horacio is excited about investing in his new home and eager to share what he has learned about finances with his community.
“I don’t want to keep this knowledge to myself. I want to share it with my community so that they, too, can pursue their goals.”
Yakaira has always been passionate about assisting veterans in her community and using her background in clinical social work to support them.
“This population is usually underserved; it’s like they’re not seen,” Yakaira said.
One way she wanted to help was by buying a home and converting it into housing for homeless veterans. But she encountered some financial obstacles in the process, including issues with her credit.
Yakaira was shocked to find two delinquent accounts on her credit report, including a retail credit card that had been charged-off. Unaware of the annual membership fee and automatic renewal when she signed up for the card, she accrued late charges on unknown fees, with notices sent to the wrong address. Feeling misled, Yakaira attempted to dispute the bill herself but could never reach the right person, often being shuffled between departments without resolution.
“It became a big headache because it’s like no one wanted to take accountability.”
She reached out to her Financial Coach, Tiffany, through TrustPlus, a benefit offered by her employer. Yakaira received coaching to dispute the account with the retailer and submitted a formal complaint to the Consumer Financial Protection Bureau, resulting in the collections account being dropped.
“It was always great speaking to her, especially when dealing with matters that are out of my hands. I never felt judged by her,” Yakaira said.
Another thing in the way of Yakaira owning a home was her student loan debt.
During her graduate studies, she took out two loans totaling over $61,000 to finance her education. Yakaira made every effort to keep up with the monthly minimum payments but struggled to keep up as payments increased over time.
“Dealing with student loan debt is tough. It messes with your peace of mind,” Yakaira said. “Everyone wants to buy a home and invest when they start making decent money, but student loans make it challenging. It’s like, ‘Wow, can’t we catch a break?’”
Yakaira was aware of the Public Service Loan Forgiveness (PSLF) program but it wasn’t until she met with Tiffany that she understood the eligibility requirements. Tiffany walked her through the recertification process and identified missing qualifying payments that were affecting her eligibility. Yakaira’s perseverance paid off: she received forgiveness for her entire $93,465 student loan debt balance.
“It was so shocking to me to see a zero balance.I feel relieved because I can focus on other things now.”
Yakaira experienced a 37-point increase in her credit score, moving her up into the “good” credit tier. This motivated her to pursue her goals, including purchasing her first home in the Dominican Republic. She is excited to keep improving her credit and invest in property in the United States.
“Working with Tiffany has definitely lifted a big load off my back,” Yakaira said. “Having support and consistency was definitely helpful; otherwise, I would not have been able to accomplish all I did on my own.”
“I was the first in my family to attend college, and it wasn’t easy,” Renee said. “I battled low self-esteem and financial struggles, but I was determined to break the cycle.”
For Renee, the process of transferring between universities while pursuing her PhD in Social Work made taking out loans a necessity. Renee received little information about the loan terms, including aspects such as interest rates and repayment schedules. She found herself burdened by the complexity of her student loans post-graduation, unaware of the long-term consequences of the multiple student loans she took out to finance her education.
Despite Renee holding a full-time management position after graduating, her income couldn’t cover her hefty monthly student loan payments ($1,000+), not even accounting for her other debts.
Before engaging with TrustPlus, Renee filed for bankruptcy with hopes of easing her debt burden. She initially viewed bankruptcy as a debt solution, but found herself overwhelmed by the complexities of different bankruptcy chapters. Though her initial aim might have been Chapter 7, which forgives most debts, she ended up having to file under Chapter 13. This chapter involves reduced payments to creditors over a set period, typically five years. For Renee, this bankruptcy filing resulted in monthly debt obligations that remained untenable for her.
“The burden of student loan debt was immense,” Renee said. “I even filed for bankruptcy just to manage, but it was a constant source of stress.”
Renee tried several times to apply to the Public Service Loan Forgiveness (PSLF) program to reduce her monthly payments. She faced repeated rejections, only adding to her stress and uncertainty that she’d ever get out of debt.
Renee had lost hope of ever paying off her student loan debt until she connected with Adrianna, her TrustPlus Financial Coach.
“Working with Adriana was a game-changer. She helped me create a solid financial plan, provided support without judgment, and gave me hope for the future.”
Adrianna expertly navigated her through the PSLF process, ensuring she received approval, which resulted in the forgiveness of her entire loan balance of nearly $275,000. Renee’s credit score immediately increased by 30 points after her loans were forgiven.
“The moment I received the letter forgiving my student loan debt was surreal. After years of financial struggle, it was a beacon of hope and a chance to rebuild.”
When Renee successfully petitioned the bankruptcy court to modify her monthly payment from $1,900 to a more manageable $1,300, she and Adrianna made a plan to make the most of her extra cash flow for savings, allowing her savings to go from $0 to $500 per month, empowering her to establish an emergency savings fund and progress towards her dream of purchasing a home.
“I can now make other plans, like possibly owning a home. Things that I never dreamed of because I always had this student debt hanging over my head.”
Charlene left her home in Guyana to pursue a dance career in New York. But her dream was soon overshadowed by a sudden divorce and the loss of her second job. This left Charlene in a financial crisis, and she had to rely on credit cards as her only option to make ends meet. As her debts mounted, her credit card accounts eventually went into collections, dealing a severe blow to her credit score. Charlene found herself struggling to meet her basic needs, and her struggles intensified when her rent increased by $1,500, making it nearly impossible for her to sustain housing.
“As soon as I landed in the US, I realized I had no idea about the credit system here. It was completely different from what I was used to. When you’re trying to build your credit, it can feel like an uphill battle. No one wants to lend you anything or help you out. It was a tough journey.”
Charlene was connected with her Financial Coach, Ana, through her local credit union, Neighborhood Trust Federal Credit Union. Ana walked Charlene through her credit report, helping her understand the status of her accounts, utilization and the areas where she could take action to improve her score. Charlene gained a deeper understanding of what goes into a credit score and the factors that impact it most, empowering her to take credit building into her own hands.
“Ana has a level of patience that helps clients understand the foundations of finance. When she tells you to do something, follow the instructions. She knows what she is doing.”
One of the most significant turning points in Ana and Charlene’s work together was when they initiated the dispute process for Charlene’s debts in collections. Through this process, they challenged the legitimacy of the debts being collected and requested that they be removed. They also worked on correcting inaccuracies on her credit report.
With Ana’s support, Charlene prepared dispute letters for three credit bureaus to correct her name, phone number, and delete wrong addresses. At one point Charlene had to make a call to TransUnion, to follow up on the processing of her dispute letters, which was a new experience for her. Ana guided her throughout the call, providing Charlene with the necessary support for a successful outcome. Charlene was then able to handle a second call to another credit bureau all on her own, and confidently. By persistently following up to remove these discrepancies on her credit report, Charlene was able to get all her collections accounts and reporting errors removed.
“You want someone who will really take interest in your case and help you with the things you can’t see or understand. Ana is really great at that.”
After successfully resolving her collection accounts, Charlene was able to focus on other financial goals. She concentrated on paying off her high-interest credit cards, building up her savings, and securing housing with the help of her improved credit score, which increased from 664 to 713 during her time working with Ana.
Moreover, her credit limits expanded from $500 to $3,000 as a result of paying down balances and qualifying for increased credit lines. Charlene’s successful resolution of her collection accounts and freedom from the burden of expensive debt has given her a renewed sense of hope that she can achieve financial stability.
“Managing personal finances can be overwhelming, especially when you don’t fully understand the ins and outs of the system,” Charlene said. “Ana has a unique talent for breaking down complex financial concepts into understandable terms. Her level of dedication and patience in teaching her clients the basics of finance is amazing.”
James had long dreamed of living and working in Brazil, and was thrilled when he was accepted as a Fulbright Scholar, enabling him to do so. But he didn’t expect it to come at such a high cost. Becoming a Fulbright Scholar meant he had to take a major pay cut. With bills to pay in both countries, James struggled to keep up with his finances and he eventually had to rely heavily on his credit cards, putting him in a vicious debt cycle.
When James returned to the United States, his goal was to own a home in his hometown of South Bronx, where he works as an administrator for a high school. He feels a strong sense of responsibility in preserving the Black presence in the community and creating generational wealth for his family.
“Owning property is a significant goal for me and my family as it is something that neither side of my family has accomplished before. There are no mementos or tangible evidence of wealth passed down through the generations. This absence of generational wealth speaks volumes about our society and economy. I am determined to become the first in my nuclear family to own property and establish a legacy that I can pass onto future generations.”
But James hit a big roadblock when he realized that the debt he accrued in Brazil disqualified him from securing a home loan. He was unsure how to navigate this obstacle until he learned about TrustPlus and began working with his Financial Coach, Elise. James was offered TrustPlus through Landed, a fintech company committed to helping essential workers achieve their dreams of homeownership.
With Elise’s guidance, James created a plan to pay off his debts and chart a path to qualify for a mortgage. After assessing his budget and available cash flow, he enrolled in a nonprofit debt management program that Elise helped him vet. The program lowered his monthly debt expenses by $100 and reduced his APR from over 20% to 3%. It also provided a projected date for when the debt would be fully paid off, making the payments feel more manageable and less overwhelming.
“Thanks to my work with Elise, I am making strides towards debt management. After exploring various options and evaluating their impact on my daily life, I have found the most appropriate path forward. With this newfound clarity, I feel much more confident that I will achieve my goals much sooner than I anticipated.”
As they continue to work together, James is excited to see where things will go with Elise and how her coaching will continue to impact his home buying journey.
“Working with a Financial Coach through Landed was truly a game-changer for me. The invaluable experience allowed me to gain new insights and learn about my finances in ways I never thought possible. In my opinion, having a Financial Coach is essential for everyone, as there is always something new to discover and learn about.”
Luis had always preferred to use cash and therefore had little experience with credit management. But he understood the importance of having good credit for emergencies and housing, and was interested in learning more about building his credit.
“While I knew that making timely payments and not exceeding my credit limit were crucial, I didn’t have much knowledge about credit management beyond that. I had picked up some basic information from watching the news, but I realized that I needed more guidance to establish good credit.”
Like many in his situation, Luis looked into online credit repair companies for help. The company he found demanded an upfront payment of $300 without reviewing his credit report or discussing his case, and did not provide any information about the process or total cost.
“They just tried to convince me to use their service and offered payment options without discussing my case or reviewing my credit report, which is why I distrusted them.”
Instead of signing up for this predatory credit repair service, Luis kept looking for help and soon a friend and fellow member of Neighborhood Trust Federal Credit Union told him about financial coaching available through the credit union. Luis reached out and was introduced to his Financial Coach, Ana.
Ana pulled Luis’ credit report and noticed several discrepancies, including an incorrect name, address, and date of birth. Most notably, there was an account on the report that did not belong to Luis, which had a significant negative impact on his credit score
“I was really shocked to find out the state of my credit report. I had never really used credit before, so I was confused as to why there was an account that wasn’t mine. It was unsettling to think that someone could be using my identity and Social Security number. I like to have clarity in my affairs, so it was a stressful situation for me.”
Working with Ana, Luis made a plan to address the errors on his credit report and began the dispute process. With Ana’s assistance in drafting the dispute letter, all of the errors were corrected, and the incorrect account was removed from his report. As a result, Luis was able to build his credit score back up to 725.
“Having financial coaching was crucial in solving the problem. From the very first meeting, I was convinced that the solutions Ana provided would give me peace of mind. The letters she gave me to clean up my credit worked perfectly, and everything she said would happen actually did happen.”
Ana also helped Luis secure several financial products available through the credit union to support his financial goals, including a secured credit card and a credit builder loan. Ana emphasized the importance of establishing a relationship with the credit union by setting up direct deposit, opening a checking account, and setting up a recurring savings plan.
With the help of trusted financial products and expert guidance, Luis is now back on track to buy an apartment outside of the city and build savings to support his daughter.
“With Ana, it felt like going to school and learning step by step, putting everything into practice. She explained everything in understandable and simple language, which made it easy for me to learn. I felt very confident after our sessions. Now, whenever I have questions, I like to discuss them with her first to ensure that I am on the right track.”
A few years ago Tawayna made great progress with her financial goals, including becoming a homeowner. But when the pandemic hit, it brought with it significant financial challenges. Tawayna lost her job as a hairstylist and, as the primary earner for her family, this had a profound impact on their financial stability.
Tawayna’s only other sources of income at the time were unemployment and veteran benefits, which left a significant shortfall in her budget and caused her mortgage to go into forbearance. Even with repayment flexibility from the bank, she struggled to keep up with payments.
“Working hard to fix my credit on my own was an achievement I was proud of, but when the pandemic hit, my circumstances changed drastically. I realized that I needed professional help to navigate through the challenges I was facing.”
Tawayna, who launched her fingerprinting and virtual notary business during the pandemic, found herself forced to depend on credit cards to sustain her business, which soon accumulated to an insurmountable amount of debt. Needing help, she enrolled in a Rising Tide Capital business course where she was introduced to her TrustPlus Financial Coach, Adrianna.
Tawayna shared with Adrianna that she had four delinquent accounts and had sought the help of a debt settlement company to dispute or reduce her debts. Adrianna cautioned Tawayna about using a debt settlement company, citing their predatory practices and inefficiency. She explained that the money Tawayna was paying was not actually going towards the debt but primarily to fees, with the remainder entering an escrow account. The company would then leverage her escrow funds for debt settlement negotiations, but only once her debts were left delinquent for weeks or months and at increasing risk of lawsuits. This differed from Tawayna’s expectations of receiving immediate assistance with her accounts.
Tawayna investigated her agreement with the debt settlement company after Adrianna’s advice and found a 156 point drop in her credit score. Despite paying $1,504, the status of her accounts remained unclear, leaving her skeptical of the company.
“I think debt settlement companies like this actively prey on those who are facing financial hardship, exploiting their vulnerable moments for profit.”
Tawayna terminated the debt settlement service and worked with Adrianna to rebuild her credit. With Adrianna’s help, she drafted complaint letters to the Better Business Bureau, seeking a refund from the debt consolidation company. They were successful in obtaining a 60% refund of $900 out of $1,504. Adrianna shared that refunds from such companies were rare, and reviews on the BBB site showed that some individuals were tricked into spending over $9,000 on the debt consolidation company Tawayna had used.
“Adrianna has a way of making even the toughest of situations seem manageable. Her words of wisdom and encouragement remind me that every challenge is an opportunity for growth and that no matter how difficult things may seem. I feel like a weight was lifted off my shoulders. Adrianna provided me with practical solutions that I could use to reach my goals.”
After receiving the refund, Tawayna secured an unrestricted $15,000 Newark Small Business Assistance grant, which allowed her to pay off smaller credit card bills, meet business expenses, and save for two-three months’ worth of mortgage payments.
“Adrianna’s ability to simply listen without judgment has been a source of comfort for me. It’s not always about reaching a specific goal; sometimes, having a trusted confidant who can empathize with your struggles and provide support can make all the difference.”
“After my husband passed away, I realized that I had no choice but to take the financial lead for me and my teenage daughter. I could no longer hide from my finances, so I stepped up and took control.”
Lina and her husband, both longtime residents of Washington Heights, first signed up for financial coaching in 2012 through Neighborhood Trust Federal Credit Union (NTFCU). With the guidance of their Financial Coach, Nathalie, her husband signed up for a credit builder loan at NTFCU to build his credit. Lina had also transitioned into working full-time and started looking into ways to improve her own credit. They were on a path to financial security, but then Lina’s husband passed away unexpectedly.
Over the following year, Lina worked closely with Nathalie, meeting every month to sort through the mountain of paperwork required to settle a life insurance claim and secure survivor benefits. It took lots of time and energy to change account owners and obtain social security benefits for her daughter. Through all of this, Lina still continued to build a savings cushion, and supported her daughter’s transition into college.
“Nathalie’s support during that particular phase was crucial for me. It was so important for me to have someone without the emotional attachment to my situation, who was able to talk me through my finances at the time. It was a really difficult time, but it was good to have a monthly conversation with my Financial Coach in an objective, focused way and discuss the tasks at hand, while still mourning.”
Once again, it felt like Lina was on a path to financial security. She was taking ownership over her family’s finances for the first time, including opening her own, new accounts. Her credit score was going up, she was using the credit cards wisely, and enjoying her new bank accounts—then COVID-19 hit.
When the pandemic shut down New York City, Lina lost her job and was only able to find part-time work for many months. She primarily survived off of her daughter’s social security benefits and unemployment insurance. With her Financial Coach’s help, she also secured a rent grant from New York State for $2,500 which provided much needed relief and enabled her to move apartments without carrying any arrears from herprevious lease.
“My Coach has been giving me time to adjust to these transitions and the pain of losing a few family members throughout the last year. I put a pause on many of my goals, but now I am settled and looking forward to picking up where I left off.”
Because of the strong financial foundation Lina built with Neighborhood Trust and NTFCU over the last nine years, she has been able to weather the shocks of the COVID-19 crisis and the trauma of losing loved ones, while still keeping an eye on her plans for the future.
Today, Nathalie and Neighborhood Trust continue to support Lina’s financial stability, and the pursuit of her long-term goals, even through this difficult and financially-tight time. Lina has opened and maintained a 529 plan for her daughter, so she’s prepared if her daughter doesn’t get a full-ride scholarship next year, as she did this year. She has a credit builder loan through the fintech Happy Mango. And she is pursuing full-time job opportunities to get back to her previous income level. “I’m looking forward to feeling like I have my feet on solid ground again.”
“I started TrustPlus at a time when my credit was not great, I was living with a roommate, I was just dead with student loan debt, and I just saw no way out.”
Milly, a comedian and writer living in Brooklyn, says “even in my standup, I would joke ‘what’s a savings account?’ I had no idea how I could manage anything. And within a year, my credit score went up 60 points.” She found out about TrustPlus through a
community outreach effort, offering critical support and financial coaching to those in need, which reached her online community of local comedians. Milly’s family always emphasized their goal for her to graduate from college but nevertalked about the potential downsides of student loans or how the credit system works.
When her college suggested she take out $20,000 in private student loans to pay for the balance not covered by her federal loans, she had no reason to question their recommendation. Her sister, with the best intentions of supporting Milly’s college dreams, co-signed on two loans, totaling $20,000.
In the 10 years since she borrowed the original $20,000, Milly has paid $33,000 but still has a balance of $17,000. Her college’s financial aid office did not make clear to Milly that private student loans can feature high and variable interest rates, not the low- and fixed-rates characteristic of federal student loans. Her lender did not accurately assess Milly’s ability-to-repay and failed to clarify for Milly’s sister the implications of co-signing the loans.
Milly has done her best never to miss her $350 monthly payment, but over the years she was forced to make difficult decisions, prioritizing rent, utilities, and food expenses over paying her student loans. These missed payments threw her repayment schedule off
track and damaged her and her sister’s credit, which strained their relationship for several years.
Had her college offered Milly recommendations for scholarship or grant opportunities or enrolled her in a payment plan with the school directly, she might have paid off the balance years ago; she estimates that she would have saved an extra $13,000 to date.
Working with her Financial Coach, Ashley, Milly decided to make several lump-sum payments towards her private loans—and even paid one off in full—while her federal loan payments are suspended.
“Before I started coaching, [this loan] just seemed like a hopeless, insurmountable issue.”
Now she is prepared to avoid predatory loans in the future and feels empowered to tackle her debt head-on. With Ashley’s guidance, she refinanced the second loan with a lower interest rate and without her sister as a co-signer. After years of being denied a refinance loan due to her poor credit rating, it was a moment of celebration.
“Ashley has not only kept me on track and kept me moving, but also her coaching has really transformed my relationship with money.”
For the first time in her life, Milly has a savings account with enough to cover one month of expenses and a prime credit score. She moved into her own apartment without roommates in 2021, a long-time goal. With her student loans under control and her housing situation stable, Milly plans to support her family, even in small ways, without expecting to get paid back.
Another long-term goal remains unchanged: quit her day job and earn a living through comedy, writing, and acting.
“I am finally seeing the light at the end of the student loan tunnel.”
“I was stuck a year ago. Now, I’m not completely financially stable, but I’m much, much better than a year ago…and I’m in the process of buying a home.”
A few years ago, Edward started driving for Uber on the weekends to supplement his income from his full-time job as an Assistant Manager at Cornell University, where he’s worked for over 19 years. He dreamed of saving up to buy a home for his family with room for his six kids and five grandkids to come visit. He earned the required licensing and found a new car that would meet Uber’s standards—everything was headed on the right track. But, behind the scenes, Edward was struggling with credit card debt and a low credit score.
“I was maxing out my credit cards not knowing it was affecting my credit negatively. I was using the cards like an emergency savings account, paying off a certain amount so I could use that amount in credit when I needed it a week later.”
Edward’s credit wasn’t strong enough to qualify for a car loan, so he asked his son to co-sign on the loan and help him with the monthly payments. Not long after, Edward’s son lost his job and the car was repossessed. Edward had lost his additional source of and owed over $3,000 on a car he no longer had. Meanwhile, he had no one to turn to for guidance, and he didn’t trust the credit card companies or auto loan provider to give him affordable repayment options.
“The interest was killing me—I paid just the minimum for so many years because I didn’t know that would affect my credit. They had no reason to tell me that there was a way to pay less in interest. If I didn’t have those credit cards hanging over me this whole time, I could’ve had my house by now. Credit is major, it’s important to know how to use it wisely.”
Edward remembered seeing an offer for TrustPlus financial coaching in a driver’s guide pamphlet he received through the Workers Benefit Fund, a portable benefits provider for delivery car and taxi drivers. He signed up for a session with his Financial Coach, Hector, who “helped me put everything to paper and start seeing the numbers.”
Hector encouraged Edward to get out of his arrangement with a credit repair company, which had fed Edward sales pitches and lies about how they could remove the defaulted car note from his credit report in exchange for $1,000 in 10 monthly installments. They worked on a budget to balance Edward’s cash flow and to help him stop relying on credit to bridge the gap between paychecks.
With the money he saved by no longer paying exorbitant interest fees on his cards and by cancelling his installment plan with the predatory credit repair company, Edward is now able to set aside a small amount of savings each month. He is prioritizing debt payments in the short-term to eventually free up more of his paycheck for savings in the future. He also set aside his stimulus check and tax refund for the down payment, a big step towards achieving his long-term goal of owning a home.
“I tried to remain hopeful and take things day by day. When I knew Tiffany [TrustPlus Financial Coach] was gonna call, I wanted to be sure I had good news for her.”
When the COVID-19 crisis hit, Nade’s income disappeared overnight, upending her small cleaning business and her personal finances.
At the time she was expecting a baby with her husband, a taxi driver, dreading what COVID-19 might mean for her and her baby’s health and what the sudden financial freefall would do to her family, business, and employees.
“Nothing was working on my side during the pandemic. I remember I cried to Tiffany one day because I was thinking about how everything was upside down all of a sudden. She followed up with all the resources she could find. She went above my expectations. When those types of people reach out to you it empowers you to not give up because you have people counting on you.”
Tiffany worked with Nade to identify resources including expanded unemployment benefits through the CARES Act and ways to free up limited cash for necessities by negotiating with her creditors to defer payments. Nade also received a $1,000 cash grant in April 2020 from Humanity Forward, which partnered with Neighborhood Trust to distribute unconditional cash relief to Bronx residents early in the pandemic.
“All of us who received the payment, it made a really positive impact on our lives. Whether you use it for rent, electricity, or groceries—it just takes the weight off our shoulders a little bit.”
Over a year later, Nade and her family are on a path to financial security. She and her husband have juggled taking care of their 13-month-old with their work schedules, and she’s getting her business back on track. She has brought on two new employees and a
few contractors, giving her more flexibility in her work schedule depending on how many contracts she takes on.
“I’ve signed a few additional contracts that are paying well. I’ve now been able to pay myself and wipe out my personal credit cards, and I’m in the process of paying off the company credit cards.”
What does she think about her rollercoaster path to financial security since the onset of the pandemic? “I want to tell Tiffany, ‘I know you worry so much about me but I’m starting to do good so you don’t have to worry about me.’”
“Elise was great at helping me understand changes in the law including the CARES Act and the expanded Child Tax Credit. She helped me get the information I needed, like tracking down one of my private loans that wasn’t on my credit report. She is a great navigator and guide.”
Allison learned of TrustPlus Financial Coaching through her job, where she delivers adult education programs to parents experiencing poverty. The financial wellness benefit offering came at a consequential moment: Allison had just been notified that her next paycheck would be garnished, nearly all of it, by the IRS; her student loans and a store credit card were in default; she was two months behind on rent and utility bills; and she was receiving calls about unpaid medical bills—all while parenting her young son as a newly single mom.
Allison has worked in the nonprofit sector her entire career. She knows it’s a job path that typically does not lead to great monetary wealth. But she didn’t think it would be this challenging to make ends meet as a professional, especially as one who used to teach workshops on budgeting and personal finance:
“It’s easier to teach than it is to apply those lessons to yourself…It’s easy to forget about financial responsibilities when your main concern is rent and getting food on the table. Everything else falls by the wayside.”
Allison’s financial journey reflects the incremental, then transformational, change that can come with guidance on how to navigate financial systems and the pitfalls that can trap people in seemingly insurmountable debt. Neither her student loan servicer nor the U.S. Department of Education made clear to Allison that she could bring her student loans out of default for free using a rehabilitation plan; her credit card collection notices omitted the fact that she could get back into good standing by arranging a more affordable payment plan.
With the support of her TrustPlus Financial Coach, Allison is now on a path to financial security she once thought impossible. She enrolled in a rehabilitation plan for her student loans, qualifying for a $0/month payment plan under the CARES Act. Her student debt is now out of default and back with the original loan servicer. Her credit score went up more than 100 points, and her credit card is now in good standing.
Elise also worked with Allison to open a Roth IRA, designated for the future education of her son.
“I still have a million things to do, but I feel like I’m taking back control so I can work on bigger goals for the future.”
“I recently went to a 401k seminar at work but I wasn’t connecting, I couldn’t understand what I should do. Financial coaching definitely helped me take advantage of things like my 401k.”
Fiorela worked with Elise, her Financial Coach, to navigate retirement offerings through her employer, the National Association of Drug Abuse Problems. They also worked together to create a plan to pay off the credit card debt Fiorela accrued after college while working her first job in human services.
“I had only $40 of discretionary income to actually live my life after paying for the necessities.”
Growing up, Fiorela’s family didn’t talk much about money. In Peru, Fiorela lived a middle-class life with her grandparents until age nine when she moved to New Jersey to be with her parents. Her mom had just graduated college and her dad was working odd jobs to support the household. Fiorela still thinks about the challenges of transitioning from having financial security to navigating financial insecurity, while also adjusting to life in the U.S.
When she finishes paying down her debt, Fiorela wants to get a dual masters in social work and public policy because “in this country our systems—including healthcare, education and criminal justice—are limiting and counterproductive. A lot of things just don’t add up. But the combination of undergrad student loans, $20,000 in credit cards, and a fear of taking on even more student debt are strong deterrents from going to grad school.”
Financial coaching, Fiorela notes, offers a sense of empowerment as she charts her next steps:
“When I’m at a place where I’m managing my finances in a conscious, secure way, and I have positive emotions attached to them, then I can make more comfortable decisions around money, like going to grad school, starting an IRA, or saving up a bigger emergency cushion.”
Fiorela is optimistic about her future and feels prepared to take the steps needed to achieve her goals, which now include buying a home, a possibility that felt impossible prior to working with Elise.
“Elise helped me make a plan and put things in perspective, so I’m now able to see the light at the end of the tunnel.”
Client Stories
“My community is my heart, and I am passionate about my work. I am excited to use my skills to make a program for parents of children with learning disabilities, who often lack the vital information needed to support their children.”
Nancy’s financial situation was strained when she battled breast cancer and went through a divorce. When she connected with Ana, her Financial Coach through her credit union, she wanted to build the credit and savings she needed to buy her first house and convert the space into a daycare.
Ana facilitated a supportive, non-judgmental space where Nancy could openly explore her financial details and credit report. This safe environment allowed Nancy to ask detailed questions and gain a clearer understanding of her cash flow. Nancy was also able to clear up some misconceptions about her credit, particularly the idea that carrying a high balance on her credit cards could improve her score. Ana explained that this actually has the opposite effect, and Nancy learned maintaining low utilization or zero balances can boost her score. Ana also highlighted how high utilization of credit cards can drain cash flow due to high interest rate charges.
Ana uncovered hidden annual fees and automatic monthly deductions on Nancy’s credit cards, of which Nancy had been unaware. Ana also identified a $2,800 charge-off account that Nancy hadn’t known about because letters were sent to the wrong address. With Ana’s guidance, Nancy reached out directly to the lender and paid off the account in full.
“Seeing my progress so quickly has been incredibly satisfying. Understanding the ins and outs of credit has been a game-changer for me. I’ve been navigating my finances blindly until now.”
Nancy had difficulty accurately tracking her income due to using multiple bank accounts and unaccounted cash payments. On Ana’s recommendation, she consolidated her bank accounts into one, and began regularly depositing cash payments she received. This streamlined approach allowed Nancy to track her income more precisely, make informed financial decisions, and develop a clearer savings strategy.
“I had never visualized my expenses before, and the information was shocking. Ana helped me prioritize; I used to try to cover too many things at once. Now, our conversation is guiding me to prioritize expenses and make tangible progress.”
With a better understanding of the credit system, Nancy realized that carrying a high balance on her credit cards was counterproductive. With Ana’s guidance, she transitioned from paying only the minimum balance to paying off her entire credit card debt, totaling $6,000. This change allowed her to save on high interest charges and redirect cash previously spent on interest towards savings and other goals. Through their work together, Ana and Nancy were able to lower her total debt from $17,000 to $6,000. Nancy also increased her monthly savings contribution to $5,000, a $3,000 increase from her previous savings of $2,000 per month.
“Ana really helped me understand how debt and credit influence my mortgage approval and interest rates. Understanding this has been key to motivating me to improve my credit score.”
Ana and Nancy worked closely through every step of the mortgage application process, ensuring Nancy met all the necessary requirements to secure a mortgage through her credit union. Looking forward, she plans to save for her son’s college education, renovate her new home, and prepare the basement for the daycare.
“I’m so thankful for all of Ana’s help. Without her, I wouldn’t have achieved the same results. The support and guidance I’ve received have made all the difference.”
For years he saved toward his dream of homeownership, but when the basement he was renting began flooding, his dream quickly became a pressing need. Before the flooding, he had applied for a mortgage but was rejected and given minimal explanation. It wasn’t until he met with his Financial Coach, Ana, through his credit union, that he began to unravel the complexities of his financial situation.
Together, Ana and Horacio delved into a detailed breakdown of his finances. This was the first time that Horacio was seeing his credit report and getting an explanation of why he was not eligible for a mortgage.
“The credit system in the US is a mystery, with no one to guide you through the steps. There is no straightforward advice, no hands-on guidance. But with Ana’s help, I gained clarity and confidence to move forward.”
Ana discovered a late mortgage payment on Horacio’s credit report, which surprised him as he had actually made the payment on time. Ana found that the late payment was due to a post office error. She guided Horacio through multiple calls with the credit bureau to remove the late charge from his report. Ana also advised Horacio to reinforce the process by mailing dispute letters. As a result, his score increased from 541 to 682—a 141-point increase after his credit report was updated.
Horacio also had one collection account on his credit report. He paid off the account in full in May 2022, but the collection still remained on his credit report. Before meeting with Ana, Horacio was unaware of the protocol to remove paid-off collection accounts from his report. Ana assisted him in initiating a dispute with the credit bureau which led to the account being updated to “paid” on his report.
After improving his credit, Ana helped Horacio secure a mortgage. He initially applied to a large financial institution for a mortgage, but they were slow and unresponsive regarding his application to buy a condo. Horacio began to feel disappointed by the bank’s lack of responsiveness until Ana suggested that he apply for a mortgage at his local credit union.
“Before financial coaching, I didn’t have hope that I would be able to afford anything on my own, but working with Ana changed my life. I appreciated her patience and the time she took to explain things to me in a way I could understand. She really took the time to help me find a way to reach my goals.”
Ana assisted Horacio with completing the mortgage application forms, leading to him quickly securing a mortgage, an opportunity that might not have been available at a larger bank with stricter criteria. Horacio now pays nearly the same amount, $1,077 for his condo mortgage compared to his previous $1,000 basement rent, but now he’s building equity and enjoying more space.
“Purchasing a new home was an opportunity to finally prioritize myself and enjoy life. Now, I can sleep in peace. I feel like a new person.”
Horacio is excited about investing in his new home and eager to share what he has learned about finances with his community.
“I don’t want to keep this knowledge to myself. I want to share it with my community so that they, too, can pursue their goals.”
Yakaira has always been passionate about assisting veterans in her community and using her background in clinical social work to support them.
“This population is usually underserved; it’s like they’re not seen,” Yakaira said.
One way she wanted to help was by buying a home and converting it into housing for homeless veterans. But she encountered some financial obstacles in the process, including issues with her credit.
Yakaira was shocked to find two delinquent accounts on her credit report, including a retail credit card that had been charged-off. Unaware of the annual membership fee and automatic renewal when she signed up for the card, she accrued late charges on unknown fees, with notices sent to the wrong address. Feeling misled, Yakaira attempted to dispute the bill herself but could never reach the right person, often being shuffled between departments without resolution.
“It became a big headache because it’s like no one wanted to take accountability.”
She reached out to her Financial Coach, Tiffany, through TrustPlus, a benefit offered by her employer. Yakaira received coaching to dispute the account with the retailer and submitted a formal complaint to the Consumer Financial Protection Bureau, resulting in the collections account being dropped.
“It was always great speaking to her, especially when dealing with matters that are out of my hands. I never felt judged by her,” Yakaira said.
Another thing in the way of Yakaira owning a home was her student loan debt.
During her graduate studies, she took out two loans totaling over $61,000 to finance her education. Yakaira made every effort to keep up with the monthly minimum payments but struggled to keep up as payments increased over time.
“Dealing with student loan debt is tough. It messes with your peace of mind,” Yakaira said. “Everyone wants to buy a home and invest when they start making decent money, but student loans make it challenging. It’s like, ‘Wow, can’t we catch a break?’”
Yakaira was aware of the Public Service Loan Forgiveness (PSLF) program but it wasn’t until she met with Tiffany that she understood the eligibility requirements. Tiffany walked her through the recertification process and identified missing qualifying payments that were affecting her eligibility. Yakaira’s perseverance paid off: she received forgiveness for her entire $93,465 student loan debt balance.
“It was so shocking to me to see a zero balance.I feel relieved because I can focus on other things now.”
Yakaira experienced a 37-point increase in her credit score, moving her up into the “good” credit tier. This motivated her to pursue her goals, including purchasing her first home in the Dominican Republic. She is excited to keep improving her credit and invest in property in the United States.
“Working with Tiffany has definitely lifted a big load off my back,” Yakaira said. “Having support and consistency was definitely helpful; otherwise, I would not have been able to accomplish all I did on my own.”
“I was the first in my family to attend college, and it wasn’t easy,” Renee said. “I battled low self-esteem and financial struggles, but I was determined to break the cycle.”
For Renee, the process of transferring between universities while pursuing her PhD in Social Work made taking out loans a necessity. Renee received little information about the loan terms, including aspects such as interest rates and repayment schedules. She found herself burdened by the complexity of her student loans post-graduation, unaware of the long-term consequences of the multiple student loans she took out to finance her education.
Despite Renee holding a full-time management position after graduating, her income couldn’t cover her hefty monthly student loan payments ($1,000+), not even accounting for her other debts.
Before engaging with TrustPlus, Renee filed for bankruptcy with hopes of easing her debt burden. She initially viewed bankruptcy as a debt solution, but found herself overwhelmed by the complexities of different bankruptcy chapters. Though her initial aim might have been Chapter 7, which forgives most debts, she ended up having to file under Chapter 13. This chapter involves reduced payments to creditors over a set period, typically five years. For Renee, this bankruptcy filing resulted in monthly debt obligations that remained untenable for her.
“The burden of student loan debt was immense,” Renee said. “I even filed for bankruptcy just to manage, but it was a constant source of stress.”
Renee tried several times to apply to the Public Service Loan Forgiveness (PSLF) program to reduce her monthly payments. She faced repeated rejections, only adding to her stress and uncertainty that she’d ever get out of debt.
Renee had lost hope of ever paying off her student loan debt until she connected with Adrianna, her TrustPlus Financial Coach.
“Working with Adriana was a game-changer. She helped me create a solid financial plan, provided support without judgment, and gave me hope for the future.”
Adrianna expertly navigated her through the PSLF process, ensuring she received approval, which resulted in the forgiveness of her entire loan balance of nearly $275,000. Renee’s credit score immediately increased by 30 points after her loans were forgiven.
“The moment I received the letter forgiving my student loan debt was surreal. After years of financial struggle, it was a beacon of hope and a chance to rebuild.”
When Renee successfully petitioned the bankruptcy court to modify her monthly payment from $1,900 to a more manageable $1,300, she and Adrianna made a plan to make the most of her extra cash flow for savings, allowing her savings to go from $0 to $500 per month, empowering her to establish an emergency savings fund and progress towards her dream of purchasing a home.
“I can now make other plans, like possibly owning a home. Things that I never dreamed of because I always had this student debt hanging over my head.”
Charlene left her home in Guyana to pursue a dance career in New York. But her dream was soon overshadowed by a sudden divorce and the loss of her second job. This left Charlene in a financial crisis, and she had to rely on credit cards as her only option to make ends meet. As her debts mounted, her credit card accounts eventually went into collections, dealing a severe blow to her credit score. Charlene found herself struggling to meet her basic needs, and her struggles intensified when her rent increased by $1,500, making it nearly impossible for her to sustain housing.
“As soon as I landed in the US, I realized I had no idea about the credit system here. It was completely different from what I was used to. When you’re trying to build your credit, it can feel like an uphill battle. No one wants to lend you anything or help you out. It was a tough journey.”
Charlene was connected with her Financial Coach, Ana, through her local credit union, Neighborhood Trust Federal Credit Union. Ana walked Charlene through her credit report, helping her understand the status of her accounts, utilization and the areas where she could take action to improve her score. Charlene gained a deeper understanding of what goes into a credit score and the factors that impact it most, empowering her to take credit building into her own hands.
“Ana has a level of patience that helps clients understand the foundations of finance. When she tells you to do something, follow the instructions. She knows what she is doing.”
One of the most significant turning points in Ana and Charlene’s work together was when they initiated the dispute process for Charlene’s debts in collections. Through this process, they challenged the legitimacy of the debts being collected and requested that they be removed. They also worked on correcting inaccuracies on her credit report.
With Ana’s support, Charlene prepared dispute letters for three credit bureaus to correct her name, phone number, and delete wrong addresses. At one point Charlene had to make a call to TransUnion, to follow up on the processing of her dispute letters, which was a new experience for her. Ana guided her throughout the call, providing Charlene with the necessary support for a successful outcome. Charlene was then able to handle a second call to another credit bureau all on her own, and confidently. By persistently following up to remove these discrepancies on her credit report, Charlene was able to get all her collections accounts and reporting errors removed.
“You want someone who will really take interest in your case and help you with the things you can’t see or understand. Ana is really great at that.”
After successfully resolving her collection accounts, Charlene was able to focus on other financial goals. She concentrated on paying off her high-interest credit cards, building up her savings, and securing housing with the help of her improved credit score, which increased from 664 to 713 during her time working with Ana.
Moreover, her credit limits expanded from $500 to $3,000 as a result of paying down balances and qualifying for increased credit lines. Charlene’s successful resolution of her collection accounts and freedom from the burden of expensive debt has given her a renewed sense of hope that she can achieve financial stability.
“Managing personal finances can be overwhelming, especially when you don’t fully understand the ins and outs of the system,” Charlene said. “Ana has a unique talent for breaking down complex financial concepts into understandable terms. Her level of dedication and patience in teaching her clients the basics of finance is amazing.”
James had long dreamed of living and working in Brazil, and was thrilled when he was accepted as a Fulbright Scholar, enabling him to do so. But he didn’t expect it to come at such a high cost. Becoming a Fulbright Scholar meant he had to take a major pay cut. With bills to pay in both countries, James struggled to keep up with his finances and he eventually had to rely heavily on his credit cards, putting him in a vicious debt cycle.
When James returned to the United States, his goal was to own a home in his hometown of South Bronx, where he works as an administrator for a high school. He feels a strong sense of responsibility in preserving the Black presence in the community and creating generational wealth for his family.
“Owning property is a significant goal for me and my family as it is something that neither side of my family has accomplished before. There are no mementos or tangible evidence of wealth passed down through the generations. This absence of generational wealth speaks volumes about our society and economy. I am determined to become the first in my nuclear family to own property and establish a legacy that I can pass onto future generations.”
But James hit a big roadblock when he realized that the debt he accrued in Brazil disqualified him from securing a home loan. He was unsure how to navigate this obstacle until he learned about TrustPlus and began working with his Financial Coach, Elise. James was offered TrustPlus through Landed, a fintech company committed to helping essential workers achieve their dreams of homeownership.
With Elise’s guidance, James created a plan to pay off his debts and chart a path to qualify for a mortgage. After assessing his budget and available cash flow, he enrolled in a nonprofit debt management program that Elise helped him vet. The program lowered his monthly debt expenses by $100 and reduced his APR from over 20% to 3%. It also provided a projected date for when the debt would be fully paid off, making the payments feel more manageable and less overwhelming.
“Thanks to my work with Elise, I am making strides towards debt management. After exploring various options and evaluating their impact on my daily life, I have found the most appropriate path forward. With this newfound clarity, I feel much more confident that I will achieve my goals much sooner than I anticipated.”
As they continue to work together, James is excited to see where things will go with Elise and how her coaching will continue to impact his home buying journey.
“Working with a Financial Coach through Landed was truly a game-changer for me. The invaluable experience allowed me to gain new insights and learn about my finances in ways I never thought possible. In my opinion, having a Financial Coach is essential for everyone, as there is always something new to discover and learn about.”
Luis had always preferred to use cash and therefore had little experience with credit management. But he understood the importance of having good credit for emergencies and housing, and was interested in learning more about building his credit.
“While I knew that making timely payments and not exceeding my credit limit were crucial, I didn’t have much knowledge about credit management beyond that. I had picked up some basic information from watching the news, but I realized that I needed more guidance to establish good credit.”
Like many in his situation, Luis looked into online credit repair companies for help. The company he found demanded an upfront payment of $300 without reviewing his credit report or discussing his case, and did not provide any information about the process or total cost.
“They just tried to convince me to use their service and offered payment options without discussing my case or reviewing my credit report, which is why I distrusted them.”
Instead of signing up for this predatory credit repair service, Luis kept looking for help and soon a friend and fellow member of Neighborhood Trust Federal Credit Union told him about financial coaching available through the credit union. Luis reached out and was introduced to his Financial Coach, Ana.
Ana pulled Luis’ credit report and noticed several discrepancies, including an incorrect name, address, and date of birth. Most notably, there was an account on the report that did not belong to Luis, which had a significant negative impact on his credit score
“I was really shocked to find out the state of my credit report. I had never really used credit before, so I was confused as to why there was an account that wasn’t mine. It was unsettling to think that someone could be using my identity and Social Security number. I like to have clarity in my affairs, so it was a stressful situation for me.”
Working with Ana, Luis made a plan to address the errors on his credit report and began the dispute process. With Ana’s assistance in drafting the dispute letter, all of the errors were corrected, and the incorrect account was removed from his report. As a result, Luis was able to build his credit score back up to 725.
“Having financial coaching was crucial in solving the problem. From the very first meeting, I was convinced that the solutions Ana provided would give me peace of mind. The letters she gave me to clean up my credit worked perfectly, and everything she said would happen actually did happen.”
Ana also helped Luis secure several financial products available through the credit union to support his financial goals, including a secured credit card and a credit builder loan. Ana emphasized the importance of establishing a relationship with the credit union by setting up direct deposit, opening a checking account, and setting up a recurring savings plan.
With the help of trusted financial products and expert guidance, Luis is now back on track to buy an apartment outside of the city and build savings to support his daughter.
“With Ana, it felt like going to school and learning step by step, putting everything into practice. She explained everything in understandable and simple language, which made it easy for me to learn. I felt very confident after our sessions. Now, whenever I have questions, I like to discuss them with her first to ensure that I am on the right track.”
A few years ago Tawayna made great progress with her financial goals, including becoming a homeowner. But when the pandemic hit, it brought with it significant financial challenges. Tawayna lost her job as a hairstylist and, as the primary earner for her family, this had a profound impact on their financial stability.
Tawayna’s only other sources of income at the time were unemployment and veteran benefits, which left a significant shortfall in her budget and caused her mortgage to go into forbearance. Even with repayment flexibility from the bank, she struggled to keep up with payments.
“Working hard to fix my credit on my own was an achievement I was proud of, but when the pandemic hit, my circumstances changed drastically. I realized that I needed professional help to navigate through the challenges I was facing.”
Tawayna, who launched her fingerprinting and virtual notary business during the pandemic, found herself forced to depend on credit cards to sustain her business, which soon accumulated to an insurmountable amount of debt. Needing help, she enrolled in a Rising Tide Capital business course where she was introduced to her TrustPlus Financial Coach, Adrianna.
Tawayna shared with Adrianna that she had four delinquent accounts and had sought the help of a debt settlement company to dispute or reduce her debts. Adrianna cautioned Tawayna about using a debt settlement company, citing their predatory practices and inefficiency. She explained that the money Tawayna was paying was not actually going towards the debt but primarily to fees, with the remainder entering an escrow account. The company would then leverage her escrow funds for debt settlement negotiations, but only once her debts were left delinquent for weeks or months and at increasing risk of lawsuits. This differed from Tawayna’s expectations of receiving immediate assistance with her accounts.
Tawayna investigated her agreement with the debt settlement company after Adrianna’s advice and found a 156 point drop in her credit score. Despite paying $1,504, the status of her accounts remained unclear, leaving her skeptical of the company.
“I think debt settlement companies like this actively prey on those who are facing financial hardship, exploiting their vulnerable moments for profit.”
Tawayna terminated the debt settlement service and worked with Adrianna to rebuild her credit. With Adrianna’s help, she drafted complaint letters to the Better Business Bureau, seeking a refund from the debt consolidation company. They were successful in obtaining a 60% refund of $900 out of $1,504. Adrianna shared that refunds from such companies were rare, and reviews on the BBB site showed that some individuals were tricked into spending over $9,000 on the debt consolidation company Tawayna had used.
“Adrianna has a way of making even the toughest of situations seem manageable. Her words of wisdom and encouragement remind me that every challenge is an opportunity for growth and that no matter how difficult things may seem. I feel like a weight was lifted off my shoulders. Adrianna provided me with practical solutions that I could use to reach my goals.”
After receiving the refund, Tawayna secured an unrestricted $15,000 Newark Small Business Assistance grant, which allowed her to pay off smaller credit card bills, meet business expenses, and save for two-three months’ worth of mortgage payments.
“Adrianna’s ability to simply listen without judgment has been a source of comfort for me. It’s not always about reaching a specific goal; sometimes, having a trusted confidant who can empathize with your struggles and provide support can make all the difference.”
“After my husband passed away, I realized that I had no choice but to take the financial lead for me and my teenage daughter. I could no longer hide from my finances, so I stepped up and took control.”
Lina and her husband, both longtime residents of Washington Heights, first signed up for financial coaching in 2012 through Neighborhood Trust Federal Credit Union (NTFCU). With the guidance of their Financial Coach, Nathalie, her husband signed up for a credit builder loan at NTFCU to build his credit. Lina had also transitioned into working full-time and started looking into ways to improve her own credit. They were on a path to financial security, but then Lina’s husband passed away unexpectedly.
Over the following year, Lina worked closely with Nathalie, meeting every month to sort through the mountain of paperwork required to settle a life insurance claim and secure survivor benefits. It took lots of time and energy to change account owners and obtain social security benefits for her daughter. Through all of this, Lina still continued to build a savings cushion, and supported her daughter’s transition into college.
“Nathalie’s support during that particular phase was crucial for me. It was so important for me to have someone without the emotional attachment to my situation, who was able to talk me through my finances at the time. It was a really difficult time, but it was good to have a monthly conversation with my Financial Coach in an objective, focused way and discuss the tasks at hand, while still mourning.”
Once again, it felt like Lina was on a path to financial security. She was taking ownership over her family’s finances for the first time, including opening her own, new accounts. Her credit score was going up, she was using the credit cards wisely, and enjoying her new bank accounts—then COVID-19 hit.
When the pandemic shut down New York City, Lina lost her job and was only able to find part-time work for many months. She primarily survived off of her daughter’s social security benefits and unemployment insurance. With her Financial Coach’s help, she also secured a rent grant from New York State for $2,500 which provided much needed relief and enabled her to move apartments without carrying any arrears from herprevious lease.
“My Coach has been giving me time to adjust to these transitions and the pain of losing a few family members throughout the last year. I put a pause on many of my goals, but now I am settled and looking forward to picking up where I left off.”
Because of the strong financial foundation Lina built with Neighborhood Trust and NTFCU over the last nine years, she has been able to weather the shocks of the COVID-19 crisis and the trauma of losing loved ones, while still keeping an eye on her plans for the future.
Today, Nathalie and Neighborhood Trust continue to support Lina’s financial stability, and the pursuit of her long-term goals, even through this difficult and financially-tight time. Lina has opened and maintained a 529 plan for her daughter, so she’s prepared if her daughter doesn’t get a full-ride scholarship next year, as she did this year. She has a credit builder loan through the fintech Happy Mango. And she is pursuing full-time job opportunities to get back to her previous income level. “I’m looking forward to feeling like I have my feet on solid ground again.”
“I started TrustPlus at a time when my credit was not great, I was living with a roommate, I was just dead with student loan debt, and I just saw no way out.”
Milly, a comedian and writer living in Brooklyn, says “even in my standup, I would joke ‘what’s a savings account?’ I had no idea how I could manage anything. And within a year, my credit score went up 60 points.” She found out about TrustPlus through a
community outreach effort, offering critical support and financial coaching to those in need, which reached her online community of local comedians. Milly’s family always emphasized their goal for her to graduate from college but nevertalked about the potential downsides of student loans or how the credit system works.
When her college suggested she take out $20,000 in private student loans to pay for the balance not covered by her federal loans, she had no reason to question their recommendation. Her sister, with the best intentions of supporting Milly’s college dreams, co-signed on two loans, totaling $20,000.
In the 10 years since she borrowed the original $20,000, Milly has paid $33,000 but still has a balance of $17,000. Her college’s financial aid office did not make clear to Milly that private student loans can feature high and variable interest rates, not the low- and fixed-rates characteristic of federal student loans. Her lender did not accurately assess Milly’s ability-to-repay and failed to clarify for Milly’s sister the implications of co-signing the loans.
Milly has done her best never to miss her $350 monthly payment, but over the years she was forced to make difficult decisions, prioritizing rent, utilities, and food expenses over paying her student loans. These missed payments threw her repayment schedule off
track and damaged her and her sister’s credit, which strained their relationship for several years.
Had her college offered Milly recommendations for scholarship or grant opportunities or enrolled her in a payment plan with the school directly, she might have paid off the balance years ago; she estimates that she would have saved an extra $13,000 to date.
Working with her Financial Coach, Ashley, Milly decided to make several lump-sum payments towards her private loans—and even paid one off in full—while her federal loan payments are suspended.
“Before I started coaching, [this loan] just seemed like a hopeless, insurmountable issue.”
Now she is prepared to avoid predatory loans in the future and feels empowered to tackle her debt head-on. With Ashley’s guidance, she refinanced the second loan with a lower interest rate and without her sister as a co-signer. After years of being denied a refinance loan due to her poor credit rating, it was a moment of celebration.
“Ashley has not only kept me on track and kept me moving, but also her coaching has really transformed my relationship with money.”
For the first time in her life, Milly has a savings account with enough to cover one month of expenses and a prime credit score. She moved into her own apartment without roommates in 2021, a long-time goal. With her student loans under control and her housing situation stable, Milly plans to support her family, even in small ways, without expecting to get paid back.
Another long-term goal remains unchanged: quit her day job and earn a living through comedy, writing, and acting.
“I am finally seeing the light at the end of the student loan tunnel.”
“I was stuck a year ago. Now, I’m not completely financially stable, but I’m much, much better than a year ago…and I’m in the process of buying a home.”
A few years ago, Edward started driving for Uber on the weekends to supplement his income from his full-time job as an Assistant Manager at Cornell University, where he’s worked for over 19 years. He dreamed of saving up to buy a home for his family with room for his six kids and five grandkids to come visit. He earned the required licensing and found a new car that would meet Uber’s standards—everything was headed on the right track. But, behind the scenes, Edward was struggling with credit card debt and a low credit score.
“I was maxing out my credit cards not knowing it was affecting my credit negatively. I was using the cards like an emergency savings account, paying off a certain amount so I could use that amount in credit when I needed it a week later.”
Edward’s credit wasn’t strong enough to qualify for a car loan, so he asked his son to co-sign on the loan and help him with the monthly payments. Not long after, Edward’s son lost his job and the car was repossessed. Edward had lost his additional source of and owed over $3,000 on a car he no longer had. Meanwhile, he had no one to turn to for guidance, and he didn’t trust the credit card companies or auto loan provider to give him affordable repayment options.
“The interest was killing me—I paid just the minimum for so many years because I didn’t know that would affect my credit. They had no reason to tell me that there was a way to pay less in interest. If I didn’t have those credit cards hanging over me this whole time, I could’ve had my house by now. Credit is major, it’s important to know how to use it wisely.”
Edward remembered seeing an offer for TrustPlus financial coaching in a driver’s guide pamphlet he received through the Workers Benefit Fund, a portable benefits provider for delivery car and taxi drivers. He signed up for a session with his Financial Coach, Hector, who “helped me put everything to paper and start seeing the numbers.”
Hector encouraged Edward to get out of his arrangement with a credit repair company, which had fed Edward sales pitches and lies about how they could remove the defaulted car note from his credit report in exchange for $1,000 in 10 monthly installments. They worked on a budget to balance Edward’s cash flow and to help him stop relying on credit to bridge the gap between paychecks.
With the money he saved by no longer paying exorbitant interest fees on his cards and by cancelling his installment plan with the predatory credit repair company, Edward is now able to set aside a small amount of savings each month. He is prioritizing debt payments in the short-term to eventually free up more of his paycheck for savings in the future. He also set aside his stimulus check and tax refund for the down payment, a big step towards achieving his long-term goal of owning a home.
“I tried to remain hopeful and take things day by day. When I knew Tiffany [TrustPlus Financial Coach] was gonna call, I wanted to be sure I had good news for her.”
When the COVID-19 crisis hit, Nade’s income disappeared overnight, upending her small cleaning business and her personal finances.
At the time she was expecting a baby with her husband, a taxi driver, dreading what COVID-19 might mean for her and her baby’s health and what the sudden financial freefall would do to her family, business, and employees.
“Nothing was working on my side during the pandemic. I remember I cried to Tiffany one day because I was thinking about how everything was upside down all of a sudden. She followed up with all the resources she could find. She went above my expectations. When those types of people reach out to you it empowers you to not give up because you have people counting on you.”
Tiffany worked with Nade to identify resources including expanded unemployment benefits through the CARES Act and ways to free up limited cash for necessities by negotiating with her creditors to defer payments. Nade also received a $1,000 cash grant in April 2020 from Humanity Forward, which partnered with Neighborhood Trust to distribute unconditional cash relief to Bronx residents early in the pandemic.
“All of us who received the payment, it made a really positive impact on our lives. Whether you use it for rent, electricity, or groceries—it just takes the weight off our shoulders a little bit.”
Over a year later, Nade and her family are on a path to financial security. She and her husband have juggled taking care of their 13-month-old with their work schedules, and she’s getting her business back on track. She has brought on two new employees and a
few contractors, giving her more flexibility in her work schedule depending on how many contracts she takes on.
“I’ve signed a few additional contracts that are paying well. I’ve now been able to pay myself and wipe out my personal credit cards, and I’m in the process of paying off the company credit cards.”
What does she think about her rollercoaster path to financial security since the onset of the pandemic? “I want to tell Tiffany, ‘I know you worry so much about me but I’m starting to do good so you don’t have to worry about me.’”
“Elise was great at helping me understand changes in the law including the CARES Act and the expanded Child Tax Credit. She helped me get the information I needed, like tracking down one of my private loans that wasn’t on my credit report. She is a great navigator and guide.”
Allison learned of TrustPlus Financial Coaching through her job, where she delivers adult education programs to parents experiencing poverty. The financial wellness benefit offering came at a consequential moment: Allison had just been notified that her next paycheck would be garnished, nearly all of it, by the IRS; her student loans and a store credit card were in default; she was two months behind on rent and utility bills; and she was receiving calls about unpaid medical bills—all while parenting her young son as a newly single mom.
Allison has worked in the nonprofit sector her entire career. She knows it’s a job path that typically does not lead to great monetary wealth. But she didn’t think it would be this challenging to make ends meet as a professional, especially as one who used to teach workshops on budgeting and personal finance:
“It’s easier to teach than it is to apply those lessons to yourself…It’s easy to forget about financial responsibilities when your main concern is rent and getting food on the table. Everything else falls by the wayside.”
Allison’s financial journey reflects the incremental, then transformational, change that can come with guidance on how to navigate financial systems and the pitfalls that can trap people in seemingly insurmountable debt. Neither her student loan servicer nor the U.S. Department of Education made clear to Allison that she could bring her student loans out of default for free using a rehabilitation plan; her credit card collection notices omitted the fact that she could get back into good standing by arranging a more affordable payment plan.
With the support of her TrustPlus Financial Coach, Allison is now on a path to financial security she once thought impossible. She enrolled in a rehabilitation plan for her student loans, qualifying for a $0/month payment plan under the CARES Act. Her student debt is now out of default and back with the original loan servicer. Her credit score went up more than 100 points, and her credit card is now in good standing.
Elise also worked with Allison to open a Roth IRA, designated for the future education of her son.
“I still have a million things to do, but I feel like I’m taking back control so I can work on bigger goals for the future.”
Fiorela worked with Elise, her Financial Coach, to navigate retirement offerings through her employer, the National Association of Drug Abuse Problems. They also worked together to create a plan to pay off the credit card debt Fiorela accrued after college while working her first job in human services.
“I had only $40 of discretionary income to actually live my life after paying for the necessities.”
Growing up, Fiorela’s family didn’t talk much about money. In Peru, Fiorela lived a middle-class life with her grandparents until age nine when she moved to New Jersey to be with her parents. Her mom had just graduated college and her dad was working odd jobs to support the household. Fiorela still thinks about the challenges of transitioning from having financial security to navigating financial insecurity, while also adjusting to life in the U.S.
When she finishes paying down her debt, Fiorela wants to get a dual masters in social work and public policy because “in this country our systems—including healthcare, education and criminal justice—are limiting and counterproductive. A lot of things just don’t add up. But the combination of undergrad student loans, $20,000 in credit cards, and a fear of taking on even more student debt are strong deterrents from going to grad school.”
Financial coaching, Fiorela notes, offers a sense of empowerment as she charts her next steps:
“When I’m at a place where I’m managing my finances in a conscious, secure way, and I have positive emotions attached to them, then I can make more comfortable decisions around money, like going to grad school, starting an IRA, or saving up a bigger emergency cushion.”
Fiorela is optimistic about her future and feels prepared to take the steps needed to achieve her goals, which now include buying a home, a possibility that felt impossible prior to working with Elise.
“Elise helped me make a plan and put things in perspective, so I’m now able to see the light at the end of the tunnel.”
Client Stories
“My community is my heart, and I am passionate about my work. I am excited to use my skills to make a program for parents of children with learning disabilities, who often lack the vital information needed to support their children.”
Nancy’s financial situation was strained when she battled breast cancer and went through a divorce. When she connected with Ana, her Financial Coach through her credit union, she wanted to build the credit and savings she needed to buy her first house and convert the space into a daycare.
Ana facilitated a supportive, non-judgmental space where Nancy could openly explore her financial details and credit report. This safe environment allowed Nancy to ask detailed questions and gain a clearer understanding of her cash flow. Nancy was also able to clear up some misconceptions about her credit, particularly the idea that carrying a high balance on her credit cards could improve her score. Ana explained that this actually has the opposite effect, and Nancy learned maintaining low utilization or zero balances can boost her score. Ana also highlighted how high utilization of credit cards can drain cash flow due to high interest rate charges.
Ana uncovered hidden annual fees and automatic monthly deductions on Nancy’s credit cards, of which Nancy had been unaware. Ana also identified a $2,800 charge-off account that Nancy hadn’t known about because letters were sent to the wrong address. With Ana’s guidance, Nancy reached out directly to the lender and paid off the account in full.
“Seeing my progress so quickly has been incredibly satisfying. Understanding the ins and outs of credit has been a game-changer for me. I’ve been navigating my finances blindly until now.”
Nancy had difficulty accurately tracking her income due to using multiple bank accounts and unaccounted cash payments. On Ana’s recommendation, she consolidated her bank accounts into one, and began regularly depositing cash payments she received. This streamlined approach allowed Nancy to track her income more precisely, make informed financial decisions, and develop a clearer savings strategy.
“I had never visualized my expenses before, and the information was shocking. Ana helped me prioritize; I used to try to cover too many things at once. Now, our conversation is guiding me to prioritize expenses and make tangible progress.”
With a better understanding of the credit system, Nancy realized that carrying a high balance on her credit cards was counterproductive. With Ana’s guidance, she transitioned from paying only the minimum balance to paying off her entire credit card debt, totaling $6,000. This change allowed her to save on high interest charges and redirect cash previously spent on interest towards savings and other goals. Through their work together, Ana and Nancy were able to lower her total debt from $17,000 to $6,000. Nancy also increased her monthly savings contribution to $5,000, a $3,000 increase from her previous savings of $2,000 per month.
“Ana really helped me understand how debt and credit influence my mortgage approval and interest rates. Understanding this has been key to motivating me to improve my credit score.”
Ana and Nancy worked closely through every step of the mortgage application process, ensuring Nancy met all the necessary requirements to secure a mortgage through her credit union. Looking forward, she plans to save for her son’s college education, renovate her new home, and prepare the basement for the daycare.
“I’m so thankful for all of Ana’s help. Without her, I wouldn’t have achieved the same results. The support and guidance I’ve received have made all the difference.”
For years he saved toward his dream of homeownership, but when the basement he was renting began flooding, his dream quickly became a pressing need. Before the flooding, he had applied for a mortgage but was rejected and given minimal explanation. It wasn’t until he met with his Financial Coach, Ana, through his credit union, that he began to unravel the complexities of his financial situation.
Together, Ana and Horacio delved into a detailed breakdown of his finances. This was the first time that Horacio was seeing his credit report and getting an explanation of why he was not eligible for a mortgage.
“The credit system in the US is a mystery, with no one to guide you through the steps. There is no straightforward advice, no hands-on guidance. But with Ana’s help, I gained clarity and confidence to move forward.”
Ana discovered a late mortgage payment on Horacio’s credit report, which surprised him as he had actually made the payment on time. Ana found that the late payment was due to a post office error. She guided Horacio through multiple calls with the credit bureau to remove the late charge from his report. Ana also advised Horacio to reinforce the process by mailing dispute letters. As a result, his score increased from 541 to 682—a 141-point increase after his credit report was updated.
Horacio also had one collection account on his credit report. He paid off the account in full in May 2022, but the collection still remained on his credit report. Before meeting with Ana, Horacio was unaware of the protocol to remove paid-off collection accounts from his report. Ana assisted him in initiating a dispute with the credit bureau which led to the account being updated to “paid” on his report.
After improving his credit, Ana helped Horacio secure a mortgage. He initially applied to a large financial institution for a mortgage, but they were slow and unresponsive regarding his application to buy a condo. Horacio began to feel disappointed by the bank’s lack of responsiveness until Ana suggested that he apply for a mortgage at his local credit union.
“Before financial coaching, I didn’t have hope that I would be able to afford anything on my own, but working with Ana changed my life. I appreciated her patience and the time she took to explain things to me in a way I could understand. She really took the time to help me find a way to reach my goals.”
Ana assisted Horacio with completing the mortgage application forms, leading to him quickly securing a mortgage, an opportunity that might not have been available at a larger bank with stricter criteria. Horacio now pays nearly the same amount, $1,077 for his condo mortgage compared to his previous $1,000 basement rent, but now he’s building equity and enjoying more space.
“Purchasing a new home was an opportunity to finally prioritize myself and enjoy life. Now, I can sleep in peace. I feel like a new person.”
Horacio is excited about investing in his new home and eager to share what he has learned about finances with his community.
“I don’t want to keep this knowledge to myself. I want to share it with my community so that they, too, can pursue their goals.”
Yakaira has always been passionate about assisting veterans in her community and using her background in clinical social work to support them.
“This population is usually underserved; it’s like they’re not seen,” Yakaira said.
One way she wanted to help was by buying a home and converting it into housing for homeless veterans. But she encountered some financial obstacles in the process, including issues with her credit.
Yakaira was shocked to find two delinquent accounts on her credit report, including a retail credit card that had been charged-off. Unaware of the annual membership fee and automatic renewal when she signed up for the card, she accrued late charges on unknown fees, with notices sent to the wrong address. Feeling misled, Yakaira attempted to dispute the bill herself but could never reach the right person, often being shuffled between departments without resolution.
“It became a big headache because it’s like no one wanted to take accountability.”
She reached out to her Financial Coach, Tiffany, through TrustPlus, a benefit offered by her employer. Yakaira received coaching to dispute the account with the retailer and submitted a formal complaint to the Consumer Financial Protection Bureau, resulting in the collections account being dropped.
“It was always great speaking to her, especially when dealing with matters that are out of my hands. I never felt judged by her,” Yakaira said.
Another thing in the way of Yakaira owning a home was her student loan debt.
During her graduate studies, she took out two loans totaling over $61,000 to finance her education. Yakaira made every effort to keep up with the monthly minimum payments but struggled to keep up as payments increased over time.
“Dealing with student loan debt is tough. It messes with your peace of mind,” Yakaira said. “Everyone wants to buy a home and invest when they start making decent money, but student loans make it challenging. It’s like, ‘Wow, can’t we catch a break?’”
Yakaira was aware of the Public Service Loan Forgiveness (PSLF) program but it wasn’t until she met with Tiffany that she understood the eligibility requirements. Tiffany walked her through the recertification process and identified missing qualifying payments that were affecting her eligibility. Yakaira’s perseverance paid off: she received forgiveness for her entire $93,465 student loan debt balance.
“It was so shocking to me to see a zero balance.I feel relieved because I can focus on other things now.”
Yakaira experienced a 37-point increase in her credit score, moving her up into the “good” credit tier. This motivated her to pursue her goals, including purchasing her first home in the Dominican Republic. She is excited to keep improving her credit and invest in property in the United States.
“Working with Tiffany has definitely lifted a big load off my back,” Yakaira said. “Having support and consistency was definitely helpful; otherwise, I would not have been able to accomplish all I did on my own.”
“I was the first in my family to attend college, and it wasn’t easy,” Renee said. “I battled low self-esteem and financial struggles, but I was determined to break the cycle.”
For Renee, the process of transferring between universities while pursuing her PhD in Social Work made taking out loans a necessity. Renee received little information about the loan terms, including aspects such as interest rates and repayment schedules. She found herself burdened by the complexity of her student loans post-graduation, unaware of the long-term consequences of the multiple student loans she took out to finance her education.
Despite Renee holding a full-time management position after graduating, her income couldn’t cover her hefty monthly student loan payments ($1,000+), not even accounting for her other debts.
Before engaging with TrustPlus, Renee filed for bankruptcy with hopes of easing her debt burden. She initially viewed bankruptcy as a debt solution, but found herself overwhelmed by the complexities of different bankruptcy chapters. Though her initial aim might have been Chapter 7, which forgives most debts, she ended up having to file under Chapter 13. This chapter involves reduced payments to creditors over a set period, typically five years. For Renee, this bankruptcy filing resulted in monthly debt obligations that remained untenable for her.
“The burden of student loan debt was immense,” Renee said. “I even filed for bankruptcy just to manage, but it was a constant source of stress.”
Renee tried several times to apply to the Public Service Loan Forgiveness (PSLF) program to reduce her monthly payments. She faced repeated rejections, only adding to her stress and uncertainty that she’d ever get out of debt.
Renee had lost hope of ever paying off her student loan debt until she connected with Adrianna, her TrustPlus Financial Coach.
“Working with Adriana was a game-changer. She helped me create a solid financial plan, provided support without judgment, and gave me hope for the future.”
Adrianna expertly navigated her through the PSLF process, ensuring she received approval, which resulted in the forgiveness of her entire loan balance of nearly $275,000. Renee’s credit score immediately increased by 30 points after her loans were forgiven.
“The moment I received the letter forgiving my student loan debt was surreal. After years of financial struggle, it was a beacon of hope and a chance to rebuild.”
When Renee successfully petitioned the bankruptcy court to modify her monthly payment from $1,900 to a more manageable $1,300, she and Adrianna made a plan to make the most of her extra cash flow for savings, allowing her savings to go from $0 to $500 per month, empowering her to establish an emergency savings fund and progress towards her dream of purchasing a home.
“I can now make other plans, like possibly owning a home. Things that I never dreamed of because I always had this student debt hanging over my head.”
Charlene left her home in Guyana to pursue a dance career in New York. But her dream was soon overshadowed by a sudden divorce and the loss of her second job. This left Charlene in a financial crisis, and she had to rely on credit cards as her only option to make ends meet. As her debts mounted, her credit card accounts eventually went into collections, dealing a severe blow to her credit score. Charlene found herself struggling to meet her basic needs, and her struggles intensified when her rent increased by $1,500, making it nearly impossible for her to sustain housing.
“As soon as I landed in the US, I realized I had no idea about the credit system here. It was completely different from what I was used to. When you’re trying to build your credit, it can feel like an uphill battle. No one wants to lend you anything or help you out. It was a tough journey.”
Charlene was connected with her Financial Coach, Ana, through her local credit union, Neighborhood Trust Federal Credit Union. Ana walked Charlene through her credit report, helping her understand the status of her accounts, utilization and the areas where she could take action to improve her score. Charlene gained a deeper understanding of what goes into a credit score and the factors that impact it most, empowering her to take credit building into her own hands.
“Ana has a level of patience that helps clients understand the foundations of finance. When she tells you to do something, follow the instructions. She knows what she is doing.”
One of the most significant turning points in Ana and Charlene’s work together was when they initiated the dispute process for Charlene’s debts in collections. Through this process, they challenged the legitimacy of the debts being collected and requested that they be removed. They also worked on correcting inaccuracies on her credit report.
With Ana’s support, Charlene prepared dispute letters for three credit bureaus to correct her name, phone number, and delete wrong addresses. At one point Charlene had to make a call to TransUnion, to follow up on the processing of her dispute letters, which was a new experience for her. Ana guided her throughout the call, providing Charlene with the necessary support for a successful outcome. Charlene was then able to handle a second call to another credit bureau all on her own, and confidently. By persistently following up to remove these discrepancies on her credit report, Charlene was able to get all her collections accounts and reporting errors removed.
“You want someone who will really take interest in your case and help you with the things you can’t see or understand. Ana is really great at that.”
After successfully resolving her collection accounts, Charlene was able to focus on other financial goals. She concentrated on paying off her high-interest credit cards, building up her savings, and securing housing with the help of her improved credit score, which increased from 664 to 713 during her time working with Ana.
Moreover, her credit limits expanded from $500 to $3,000 as a result of paying down balances and qualifying for increased credit lines. Charlene’s successful resolution of her collection accounts and freedom from the burden of expensive debt has given her a renewed sense of hope that she can achieve financial stability.
“Managing personal finances can be overwhelming, especially when you don’t fully understand the ins and outs of the system,” Charlene said. “Ana has a unique talent for breaking down complex financial concepts into understandable terms. Her level of dedication and patience in teaching her clients the basics of finance is amazing.”
James had long dreamed of living and working in Brazil, and was thrilled when he was accepted as a Fulbright Scholar, enabling him to do so. But he didn’t expect it to come at such a high cost. Becoming a Fulbright Scholar meant he had to take a major pay cut. With bills to pay in both countries, James struggled to keep up with his finances and he eventually had to rely heavily on his credit cards, putting him in a vicious debt cycle.
When James returned to the United States, his goal was to own a home in his hometown of South Bronx, where he works as an administrator for a high school. He feels a strong sense of responsibility in preserving the Black presence in the community and creating generational wealth for his family.
“Owning property is a significant goal for me and my family as it is something that neither side of my family has accomplished before. There are no mementos or tangible evidence of wealth passed down through the generations. This absence of generational wealth speaks volumes about our society and economy. I am determined to become the first in my nuclear family to own property and establish a legacy that I can pass onto future generations.”
But James hit a big roadblock when he realized that the debt he accrued in Brazil disqualified him from securing a home loan. He was unsure how to navigate this obstacle until he learned about TrustPlus and began working with his Financial Coach, Elise. James was offered TrustPlus through Landed, a fintech company committed to helping essential workers achieve their dreams of homeownership.
With Elise’s guidance, James created a plan to pay off his debts and chart a path to qualify for a mortgage. After assessing his budget and available cash flow, he enrolled in a nonprofit debt management program that Elise helped him vet. The program lowered his monthly debt expenses by $100 and reduced his APR from over 20% to 3%. It also provided a projected date for when the debt would be fully paid off, making the payments feel more manageable and less overwhelming.
“Thanks to my work with Elise, I am making strides towards debt management. After exploring various options and evaluating their impact on my daily life, I have found the most appropriate path forward. With this newfound clarity, I feel much more confident that I will achieve my goals much sooner than I anticipated.”
As they continue to work together, James is excited to see where things will go with Elise and how her coaching will continue to impact his home buying journey.
“Working with a Financial Coach through Landed was truly a game-changer for me. The invaluable experience allowed me to gain new insights and learn about my finances in ways I never thought possible. In my opinion, having a Financial Coach is essential for everyone, as there is always something new to discover and learn about.”
Luis had always preferred to use cash and therefore had little experience with credit management. But he understood the importance of having good credit for emergencies and housing, and was interested in learning more about building his credit.
“While I knew that making timely payments and not exceeding my credit limit were crucial, I didn’t have much knowledge about credit management beyond that. I had picked up some basic information from watching the news, but I realized that I needed more guidance to establish good credit.”
Like many in his situation, Luis looked into online credit repair companies for help. The company he found demanded an upfront payment of $300 without reviewing his credit report or discussing his case, and did not provide any information about the process or total cost.
“They just tried to convince me to use their service and offered payment options without discussing my case or reviewing my credit report, which is why I distrusted them.”
Instead of signing up for this predatory credit repair service, Luis kept looking for help and soon a friend and fellow member of Neighborhood Trust Federal Credit Union told him about financial coaching available through the credit union. Luis reached out and was introduced to his Financial Coach, Ana.
Ana pulled Luis’ credit report and noticed several discrepancies, including an incorrect name, address, and date of birth. Most notably, there was an account on the report that did not belong to Luis, which had a significant negative impact on his credit score
“I was really shocked to find out the state of my credit report. I had never really used credit before, so I was confused as to why there was an account that wasn’t mine. It was unsettling to think that someone could be using my identity and Social Security number. I like to have clarity in my affairs, so it was a stressful situation for me.”
Working with Ana, Luis made a plan to address the errors on his credit report and began the dispute process. With Ana’s assistance in drafting the dispute letter, all of the errors were corrected, and the incorrect account was removed from his report. As a result, Luis was able to build his credit score back up to 725.
“Having financial coaching was crucial in solving the problem. From the very first meeting, I was convinced that the solutions Ana provided would give me peace of mind. The letters she gave me to clean up my credit worked perfectly, and everything she said would happen actually did happen.”
Ana also helped Luis secure several financial products available through the credit union to support his financial goals, including a secured credit card and a credit builder loan. Ana emphasized the importance of establishing a relationship with the credit union by setting up direct deposit, opening a checking account, and setting up a recurring savings plan.
With the help of trusted financial products and expert guidance, Luis is now back on track to buy an apartment outside of the city and build savings to support his daughter.
“With Ana, it felt like going to school and learning step by step, putting everything into practice. She explained everything in understandable and simple language, which made it easy for me to learn. I felt very confident after our sessions. Now, whenever I have questions, I like to discuss them with her first to ensure that I am on the right track.”
A few years ago Tawayna made great progress with her financial goals, including becoming a homeowner. But when the pandemic hit, it brought with it significant financial challenges. Tawayna lost her job as a hairstylist and, as the primary earner for her family, this had a profound impact on their financial stability.
Tawayna’s only other sources of income at the time were unemployment and veteran benefits, which left a significant shortfall in her budget and caused her mortgage to go into forbearance. Even with repayment flexibility from the bank, she struggled to keep up with payments.
“Working hard to fix my credit on my own was an achievement I was proud of, but when the pandemic hit, my circumstances changed drastically. I realized that I needed professional help to navigate through the challenges I was facing.”
Tawayna, who launched her fingerprinting and virtual notary business during the pandemic, found herself forced to depend on credit cards to sustain her business, which soon accumulated to an insurmountable amount of debt. Needing help, she enrolled in a Rising Tide Capital business course where she was introduced to her TrustPlus Financial Coach, Adrianna.
Tawayna shared with Adrianna that she had four delinquent accounts and had sought the help of a debt settlement company to dispute or reduce her debts. Adrianna cautioned Tawayna about using a debt settlement company, citing their predatory practices and inefficiency. She explained that the money Tawayna was paying was not actually going towards the debt but primarily to fees, with the remainder entering an escrow account. The company would then leverage her escrow funds for debt settlement negotiations, but only once her debts were left delinquent for weeks or months and at increasing risk of lawsuits. This differed from Tawayna’s expectations of receiving immediate assistance with her accounts.
Tawayna investigated her agreement with the debt settlement company after Adrianna’s advice and found a 156 point drop in her credit score. Despite paying $1,504, the status of her accounts remained unclear, leaving her skeptical of the company.
“I think debt settlement companies like this actively prey on those who are facing financial hardship, exploiting their vulnerable moments for profit.”
Tawayna terminated the debt settlement service and worked with Adrianna to rebuild her credit. With Adrianna’s help, she drafted complaint letters to the Better Business Bureau, seeking a refund from the debt consolidation company. They were successful in obtaining a 60% refund of $900 out of $1,504. Adrianna shared that refunds from such companies were rare, and reviews on the BBB site showed that some individuals were tricked into spending over $9,000 on the debt consolidation company Tawayna had used.
“Adrianna has a way of making even the toughest of situations seem manageable. Her words of wisdom and encouragement remind me that every challenge is an opportunity for growth and that no matter how difficult things may seem. I feel like a weight was lifted off my shoulders. Adrianna provided me with practical solutions that I could use to reach my goals.”
After receiving the refund, Tawayna secured an unrestricted $15,000 Newark Small Business Assistance grant, which allowed her to pay off smaller credit card bills, meet business expenses, and save for two-three months’ worth of mortgage payments.
“Adrianna’s ability to simply listen without judgment has been a source of comfort for me. It’s not always about reaching a specific goal; sometimes, having a trusted confidant who can empathize with your struggles and provide support can make all the difference.”
Lina and her husband, both longtime residents of Washington Heights, first signed up for financial coaching in 2012 through Neighborhood Trust Federal Credit Union (NTFCU). With the guidance of their Financial Coach, Nathalie, her husband signed up for a credit builder loan at NTFCU to build his credit. Lina had also transitioned into working full-time and started looking into ways to improve her own credit. They were on a path to financial security, but then Lina’s husband passed away unexpectedly.
Over the following year, Lina worked closely with Nathalie, meeting every month to sort through the mountain of paperwork required to settle a life insurance claim and secure survivor benefits. It took lots of time and energy to change account owners and obtain social security benefits for her daughter. Through all of this, Lina still continued to build a savings cushion, and supported her daughter’s transition into college.
“Nathalie’s support during that particular phase was crucial for me. It was so important for me to have someone without the emotional attachment to my situation, who was able to talk me through my finances at the time. It was a really difficult time, but it was good to have a monthly conversation with my Financial Coach in an objective, focused way and discuss the tasks at hand, while still mourning.”
Once again, it felt like Lina was on a path to financial security. She was taking ownership over her family’s finances for the first time, including opening her own, new accounts. Her credit score was going up, she was using the credit cards wisely, and enjoying her new bank accounts—then COVID-19 hit.
When the pandemic shut down New York City, Lina lost her job and was only able to find part-time work for many months. She primarily survived off of her daughter’s social security benefits and unemployment insurance. With her Financial Coach’s help, she also secured a rent grant from New York State for $2,500 which provided much needed relief and enabled her to move apartments without carrying any arrears from herprevious lease.
“My Coach has been giving me time to adjust to these transitions and the pain of losing a few family members throughout the last year. I put a pause on many of my goals, but now I am settled and looking forward to picking up where I left off.”
Because of the strong financial foundation Lina built with Neighborhood Trust and NTFCU over the last nine years, she has been able to weather the shocks of the COVID-19 crisis and the trauma of losing loved ones, while still keeping an eye on her plans for the future.
Today, Nathalie and Neighborhood Trust continue to support Lina’s financial stability, and the pursuit of her long-term goals, even through this difficult and financially-tight time. Lina has opened and maintained a 529 plan for her daughter, so she’s prepared if her daughter doesn’t get a full-ride scholarship next year, as she did this year. She has a credit builder loan through the fintech Happy Mango. And she is pursuing full-time job opportunities to get back to her previous income level. “I’m looking forward to feeling like I have my feet on solid ground again.”
Milly, a comedian and writer living in Brooklyn, says “even in my standup, I would joke ‘what’s a savings account?’ I had no idea how I could manage anything. And within a year, my credit score went up 60 points.” She found out about TrustPlus through a
community outreach effort, offering critical support and financial coaching to those in need, which reached her online community of local comedians. Milly’s family always emphasized their goal for her to graduate from college but nevertalked about the potential downsides of student loans or how the credit system works.
When her college suggested she take out $20,000 in private student loans to pay for the balance not covered by her federal loans, she had no reason to question their recommendation. Her sister, with the best intentions of supporting Milly’s college dreams, co-signed on two loans, totaling $20,000.
In the 10 years since she borrowed the original $20,000, Milly has paid $33,000 but still has a balance of $17,000. Her college’s financial aid office did not make clear to Milly that private student loans can feature high and variable interest rates, not the low- and fixed-rates characteristic of federal student loans. Her lender did not accurately assess Milly’s ability-to-repay and failed to clarify for Milly’s sister the implications of co-signing the loans.
Milly has done her best never to miss her $350 monthly payment, but over the years she was forced to make difficult decisions, prioritizing rent, utilities, and food expenses over paying her student loans. These missed payments threw her repayment schedule off
track and damaged her and her sister’s credit, which strained their relationship for several years.
Had her college offered Milly recommendations for scholarship or grant opportunities or enrolled her in a payment plan with the school directly, she might have paid off the balance years ago; she estimates that she would have saved an extra $13,000 to date.
Working with her Financial Coach, Ashley, Milly decided to make several lump-sum payments towards her private loans—and even paid one off in full—while her federal loan payments are suspended.
“Before I started coaching, [this loan] just seemed like a hopeless, insurmountable issue.”
Now she is prepared to avoid predatory loans in the future and feels empowered to tackle her debt head-on. With Ashley’s guidance, she refinanced the second loan with a lower interest rate and without her sister as a co-signer. After years of being denied a refinance loan due to her poor credit rating, it was a moment of celebration.
“Ashley has not only kept me on track and kept me moving, but also her coaching has really transformed my relationship with money.”
For the first time in her life, Milly has a savings account with enough to cover one month of expenses and a prime credit score. She moved into her own apartment without roommates in 2021, a long-time goal. With her student loans under control and her housing situation stable, Milly plans to support her family, even in small ways, without expecting to get paid back.
Another long-term goal remains unchanged: quit her day job and earn a living through comedy, writing, and acting.
“I am finally seeing the light at the end of the student loan tunnel.”
A few years ago, Edward started driving for Uber on the weekends to supplement his income from his full-time job as an Assistant Manager at Cornell University, where he’s worked for over 19 years. He dreamed of saving up to buy a home for his family with room for his six kids and five grandkids to come visit. He earned the required licensing and found a new car that would meet Uber’s standards—everything was headed on the right track. But, behind the scenes, Edward was struggling with credit card debt and a low credit score.
“I was maxing out my credit cards not knowing it was affecting my credit negatively. I was using the cards like an emergency savings account, paying off a certain amount so I could use that amount in credit when I needed it a week later.”
Edward’s credit wasn’t strong enough to qualify for a car loan, so he asked his son to co-sign on the loan and help him with the monthly payments. Not long after, Edward’s son lost his job and the car was repossessed. Edward had lost his additional source of and owed over $3,000 on a car he no longer had. Meanwhile, he had no one to turn to for guidance, and he didn’t trust the credit card companies or auto loan provider to give him affordable repayment options.
“The interest was killing me—I paid just the minimum for so many years because I didn’t know that would affect my credit. They had no reason to tell me that there was a way to pay less in interest. If I didn’t have those credit cards hanging over me this whole time, I could’ve had my house by now. Credit is major, it’s important to know how to use it wisely.”
Edward remembered seeing an offer for TrustPlus financial coaching in a driver’s guide pamphlet he received through the Workers Benefit Fund, a portable benefits provider for delivery car and taxi drivers. He signed up for a session with his Financial Coach, Hector, who “helped me put everything to paper and start seeing the numbers.”
Hector encouraged Edward to get out of his arrangement with a credit repair company, which had fed Edward sales pitches and lies about how they could remove the defaulted car note from his credit report in exchange for $1,000 in 10 monthly installments. They worked on a budget to balance Edward’s cash flow and to help him stop relying on credit to bridge the gap between paychecks.
With the money he saved by no longer paying exorbitant interest fees on his cards and by cancelling his installment plan with the predatory credit repair company, Edward is now able to set aside a small amount of savings each month. He is prioritizing debt payments in the short-term to eventually free up more of his paycheck for savings in the future. He also set aside his stimulus check and tax refund for the down payment, a big step towards achieving his long-term goal of owning a home.
When the COVID-19 crisis hit, Nade’s income disappeared overnight, upending her small cleaning business and her personal finances.
At the time she was expecting a baby with her husband, a taxi driver, dreading what COVID-19 might mean for her and her baby’s health and what the sudden financial freefall would do to her family, business, and employees.
“Nothing was working on my side during the pandemic. I remember I cried to Tiffany one day because I was thinking about how everything was upside down all of a sudden. She followed up with all the resources she could find. She went above my expectations. When those types of people reach out to you it empowers you to not give up because you have people counting on you.”
Tiffany worked with Nade to identify resources including expanded unemployment benefits through the CARES Act and ways to free up limited cash for necessities by negotiating with her creditors to defer payments. Nade also received a $1,000 cash grant in April 2020 from Humanity Forward, which partnered with Neighborhood Trust to distribute unconditional cash relief to Bronx residents early in the pandemic.
“All of us who received the payment, it made a really positive impact on our lives. Whether you use it for rent, electricity, or groceries—it just takes the weight off our shoulders a little bit.”
Over a year later, Nade and her family are on a path to financial security. She and her husband have juggled taking care of their 13-month-old with their work schedules, and she’s getting her business back on track. She has brought on two new employees and a
few contractors, giving her more flexibility in her work schedule depending on how many contracts she takes on.
“I’ve signed a few additional contracts that are paying well. I’ve now been able to pay myself and wipe out my personal credit cards, and I’m in the process of paying off the company credit cards.”
What does she think about her rollercoaster path to financial security since the onset of the pandemic? “I want to tell Tiffany, ‘I know you worry so much about me but I’m starting to do good so you don’t have to worry about me.’”
Allison learned of TrustPlus Financial Coaching through her job, where she delivers adult education programs to parents experiencing poverty. The financial wellness benefit offering came at a consequential moment: Allison had just been notified that her next paycheck would be garnished, nearly all of it, by the IRS; her student loans and a store credit card were in default; she was two months behind on rent and utility bills; and she was receiving calls about unpaid medical bills—all while parenting her young son as a newly single mom.
Allison has worked in the nonprofit sector her entire career. She knows it’s a job path that typically does not lead to great monetary wealth. But she didn’t think it would be this challenging to make ends meet as a professional, especially as one who used to teach workshops on budgeting and personal finance:
“It’s easier to teach than it is to apply those lessons to yourself…It’s easy to forget about financial responsibilities when your main concern is rent and getting food on the table. Everything else falls by the wayside.”
Allison’s financial journey reflects the incremental, then transformational, change that can come with guidance on how to navigate financial systems and the pitfalls that can trap people in seemingly insurmountable debt. Neither her student loan servicer nor the U.S. Department of Education made clear to Allison that she could bring her student loans out of default for free using a rehabilitation plan; her credit card collection notices omitted the fact that she could get back into good standing by arranging a more affordable payment plan.
With the support of her TrustPlus Financial Coach, Allison is now on a path to financial security she once thought impossible. She enrolled in a rehabilitation plan for her student loans, qualifying for a $0/month payment plan under the CARES Act. Her student debt is now out of default and back with the original loan servicer. Her credit score went up more than 100 points, and her credit card is now in good standing.
Elise also worked with Allison to open a Roth IRA, designated for the future education of her son.
“I still have a million things to do, but I feel like I’m taking back control so I can work on bigger goals for the future.”
Fiorela worked with Elise, her Financial Coach, to navigate retirement offerings through her employer, the National Association of Drug Abuse Problems. They also worked together to create a plan to pay off the credit card debt Fiorela accrued after college while working her first job in human services.
“I had only $40 of discretionary income to actually live my life after paying for the necessities.”
Growing up, Fiorela’s family didn’t talk much about money. In Peru, Fiorela lived a middle-class life with her grandparents until age nine when she moved to New Jersey to be with her parents. Her mom had just graduated college and her dad was working odd jobs to support the household. Fiorela still thinks about the challenges of transitioning from having financial security to navigating financial insecurity, while also adjusting to life in the U.S.
When she finishes paying down her debt, Fiorela wants to get a dual masters in social work and public policy because “in this country our systems—including healthcare, education and criminal justice—are limiting and counterproductive. A lot of things just don’t add up. But the combination of undergrad student loans, $20,000 in credit cards, and a fear of taking on even more student debt are strong deterrents from going to grad school.”
Financial coaching, Fiorela notes, offers a sense of empowerment as she charts her next steps:
“When I’m at a place where I’m managing my finances in a conscious, secure way, and I have positive emotions attached to them, then I can make more comfortable decisions around money, like going to grad school, starting an IRA, or saving up a bigger emergency cushion.”
Fiorela is optimistic about her future and feels prepared to take the steps needed to achieve her goals, which now include buying a home, a possibility that felt impossible prior to working with Elise.
“Elise helped me make a plan and put things in perspective, so I’m now able to see the light at the end of the tunnel.”
Neighborhood Trust Customer Stories
“Data from Pathways became quite useful in our advocacy efforts in New Mexico, a historic win against predatory debt,” says Diane Sandoval-Griego, Chief of Financial Empowerment, Guadalupe Credit Union.
Who are you and what do you do?
We are a community development financial institution that’s been serving the Northern New Mexico community for over 70 years. We serve mostly low-income populations, but we have a variety of members from rural communities to more populated areas. We strive to bring financial empowerment to the communities we serve, to make sure that people have choices and that they’re aware of those choices.
What happened?
In March 2022, New Mexico Gov. Michelle Lujan Grisham signed House Bill 132, reforming predatory lending practices by lowering the cap on small loan interest rates from 175% to 36%. The data we pulled and utilized from Pathways became quite useful in our advocacy efforts on which we’ve been working tirelessly for many years. We are proud of this achievement—this is a HUGE accomplishment for New Mexico and Guadalupe Credit Union. Pathways helped us help our community with this historic win against wealth-stripping predatory lenders.
What is Pathways?
Pathways to Financial Empowerment is the coaching methodology and the software we use for financial coaching and tracking outcomes. Pathways has been helpful in keeping our members in good standing, progressing on their goals, and in harnessing data to show that credit unions are a great option for consumers. It helps us show that credit scores can move up with financial coaching.
How would you describe Pathways’ impact on your organization?
On three levels, the individual, institutional, and market.
Pathways makes our financial coaching more effective in helping individuals. It enables us to keep an open line of communication, show members progress with action steps, and demonstrate ongoing support. We’re able to communicate with members through text messaging templates; we appreciate the Spanish versions, especially.
Our coaches then did a lot more peer-to-peer learning about the options that people have, because we had this one-stop shop of financial approaches from fellow coaches and their clients.
One example was student loan debt. Pathways enabled us to look at credit reports with each other to see how this member paid off his student loan debt. Since then, all of the coaches seem to have done better with that topic overall. As a manager, I am grateful that Pathways enables me to manage my employees on a more factual basis without having to do extra research. It has also helped with grant reporting and providing evidence to our board and our lending department about what I would like to see as possible alternatives or solutions we can introduce to members.
At the market level, Pathways helped us harness data for advocacy to change the rules of the game, to cap small loan interest at 36% statewide. It was a historic win, and we’re not done yet.
A partnership between Neighborhood Trust and credit union advocacy network Inclusiv, Pathways to Financial Empowerment (Pathways) integrates financial coaching into credit unions nationwide. Pathways trains credit union staff to provide our model of trusted, action-oriented financial coaching to its members and to track data and results via our proprietary technology platform. This ensures that clients are better connected to credit union products that can help them achieve their goals, improving members’ financial health, generating a loyal member base and supporting credit union operations. Since the program’s inception in 2015 Pathways has reached nearly 4,500 credit union members, reducing a cumulative $2 million in consumer debt and $500,000 in collections accounts. Today Pathways spans 20 credit unions in 14 states.
Neighborhood Trust Customer Stories
“Data from Pathways became quite useful in our advocacy efforts in New Mexico, a historic win against predatory debt,” says Diane Sandoval-Griego, Chief of Financial Empowerment, Guadalupe Credit Union.
Who are you and what do you do?
We are a community development financial institution that’s been serving the Northern New Mexico community for over 70 years. We serve mostly low-income populations, but we have a variety of members from rural communities to more populated areas. We strive to bring financial empowerment to the communities we serve, to make sure that people have choices and that they’re aware of those choices.
What happened?
In March 2022, New Mexico Gov. Michelle Lujan Grisham signed House Bill 132, reforming predatory lending practices by lowering the cap on small loan interest rates from 175% to 36%. The data we pulled and utilized from Pathways became quite useful in our advocacy efforts on which we’ve been working tirelessly for many years. We are proud of this achievement—this is a HUGE accomplishment for New Mexico and Guadalupe Credit Union. Pathways helped us help our community with this historic win against wealth-stripping predatory lenders.
What is Pathways?
Pathways to Financial Empowerment is the coaching methodology and the software we use for financial coaching and tracking outcomes. Pathways has been helpful in keeping our members in good standing, progressing on their goals, and in harnessing data to show that credit unions are a great option for consumers. It helps us show that credit scores can move up with financial coaching.
How would you describe Pathways’ impact on your organization?
On three levels, the individual, institutional, and market.
Pathways makes our financial coaching more effective in helping individuals. It enables us to keep an open line of communication, show members progress with action steps, and demonstrate ongoing support. We’re able to communicate with members through text messaging templates; we appreciate the Spanish versions, especially.
Our coaches then did a lot more peer-to-peer learning about the options that people have, because we had this one-stop shop of financial approaches from fellow coaches and their clients.
One example was student loan debt. Pathways enabled us to look at credit reports with each other to see how this member paid off his student loan debt. Since then, all of the coaches seem to have done better with that topic overall. As a manager, I am grateful that Pathways enables me to manage my employees on a more factual basis without having to do extra research. It has also helped with grant reporting and providing evidence to our board and our lending department about what I would like to see as possible alternatives or solutions we can introduce to members.
At the market level, Pathways helped us harness data for advocacy to change the rules of the game, to cap small loan interest at 36% statewide. It was a historic win, and we’re not done yet.
A partnership between Neighborhood Trust and credit union advocacy network Inclusiv, Pathways to Financial Empowerment (Pathways) integrates financial coaching into credit unions nationwide. Pathways trains credit union staff to provide our model of trusted, action-oriented financial coaching to its members and to track data and results via our proprietary technology platform. This ensures that clients are better connected to credit union products that can help them achieve their goals, improving members’ financial health, generating a loyal member base and supporting credit union operations. Since the program’s inception in 2015 Pathways has reached nearly 4,500 credit union members, reducing a cumulative $2 million in consumer debt and $500,000 in collections accounts. Today Pathways spans 20 credit unions in 14 states.
Neighborhood Trust Customer Stories
“Data from Pathways became quite useful in our advocacy efforts in New Mexico, a historic win against predatory debt,” says Diane Sandoval-Griego, Chief of Financial Empowerment, Guadalupe Credit Union.
Who are you and what do you do?
We are a community development financial institution that’s been serving the Northern New Mexico community for over 70 years. We serve mostly low-income populations, but we have a variety of members from rural communities to more populated areas. We strive to bring financial empowerment to the communities we serve, to make sure that people have choices and that they’re aware of those choices.
What happened?
In March 2022, New Mexico Gov. Michelle Lujan Grisham signed House Bill 132, reforming predatory lending practices by lowering the cap on small loan interest rates from 175% to 36%. The data we pulled and utilized from Pathways became quite useful in our advocacy efforts on which we’ve been working tirelessly for many years. We are proud of this achievement—this is a HUGE accomplishment for New Mexico and Guadalupe Credit Union. Pathways helped us help our community with this historic win against wealth-stripping predatory lenders.
What is Pathways?
Pathways to Financial Empowerment is the coaching methodology and the software we use for financial coaching and tracking outcomes. Pathways has been helpful in keeping our members in good standing, progressing on their goals, and in harnessing data to show that credit unions are a great option for consumers. It helps us show that credit scores can move up with financial coaching.
How would you describe Pathways’ impact on your organization?
On three levels, the individual, institutional, and market.
Pathways makes our financial coaching more effective in helping individuals. It enables us to keep an open line of communication, show members progress with action steps, and demonstrate ongoing support. We’re able to communicate with members through text messaging templates; we appreciate the Spanish versions, especially.
Our coaches then did a lot more peer-to-peer learning about the options that people have, because we had this one-stop shop of financial approaches from fellow coaches and their clients.
One example was student loan debt. Pathways enabled us to look at credit reports with each other to see how this member paid off his student loan debt. Since then, all of the coaches seem to have done better with that topic overall. As a manager, I am grateful that Pathways enables me to manage my employees on a more factual basis without having to do extra research. It has also helped with grant reporting and providing evidence to our board and our lending department about what I would like to see as possible alternatives or solutions we can introduce to members.
At the market level, Pathways helped us harness data for advocacy to change the rules of the game, to cap small loan interest at 36% statewide. It was a historic win, and we’re not done yet.
A partnership between Neighborhood Trust and credit union advocacy network Inclusiv, Pathways to Financial Empowerment (Pathways) integrates financial coaching into credit unions nationwide. Pathways trains credit union staff to provide our model of trusted, action-oriented financial coaching to its members and to track data and results via our proprietary technology platform. This ensures that clients are better connected to credit union products that can help them achieve their goals, improving members’ financial health, generating a loyal member base and supporting credit union operations. Since the program’s inception in 2015 Pathways has reached nearly 4,500 credit union members, reducing a cumulative $2 million in consumer debt and $500,000 in collections accounts. Today Pathways spans 20 credit unions in 14 states.
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